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INTERNATIONAL 




PUBLISHED WITH THE NEW YORK TIMES AND THE WASHINGTON POST 


Paris, Satnrdav-Sunday, September 24-25, 1994 


Breaking the Old Taboo 
About the Pope ’s Health 

Already, Talk Is of Papal Succession 


By Alan Cowell 

New York Times Service 

ROME - — The old aphorism at the Vati- 
can used to be something like; The Pope is 
alive until he is dead 

It meant, simply, that whatever the sLate 
of his mortality, the Pope could not be seen 
to be enfeebled or otherwise impaired 
from performing the spiritual and physical 
duties of his office. 

In recent days, something has changed 

“For many years, papal illnesses were 
taboo," said Gian carlo Zizola, an Italian 
writer who specializes in covering the Vati- 
can. “And there still exists one of the most 
constant beliefs of the Vatican, according 
to which the Pope enjoys the best possible 
health until the moment before he dies." 

But these days, he said the question 
“How is the Pope?" is quickly followed by 
another “Who could be elected?" 

The talk, that is to say, has turned to the 
succession and to what Mr. 7.hnln de- 
scribed as “the pre- electoral climate that 
has set in among the highest ecclesiastical 
hierarchy.** 

Indelicate and possibly premature 
though it may seem, the Curia — the 
Vatican bureaucracy — is maneuvering for 
a new papal era. 

Thus, the announcement on Thursday 
that, for reasons of ill-health. Pope John 
Paul II is postponing a visit next month to 
New York, Newark and Baltimore, has 
assumed far broader significance. Not 
only did the Vatican undermine its own 


insistence on papal robustness, but it was 
also unable to prevent a remarkable shift 
in perceptions. 

At the start of Karol Wojtvia's papacy 
16 years ago, said Domenico Del Rio, a 
former priest who writes widely about the 

NEWS ANALYSIS ~ 

Vatican, the Pope brandished the pontifi- 
cal cross around the world “like a pilgrim's 
staff." 

“Now he leans on the same cross for 
support as he walks," he said. 

Within the ever-conspiratorial walls of 
the Vatican, moreover, according to offi- 
cials who spoke in return for anonymity, 
the perception of ill-health has crystallized 
questions that are not asked in public. 

Will the Italians reassert their hold on 
the papacy broken with the election of the 
Polish Pope in 1978? Will the cardinals 
who elect a new Pope choose a successor 
from the Third World, where the Roman 
Catholic Church is most vibrant; could 
there, this time, be history’s first African 
pontiff? 

The questions do not tally with what the 
Pope’s aides and physicians say about his 
health. According to his spokesman. Joa- 
quin Navarro-Valls, lie only reason the 
Pope postponed next month's trip to the 
United States was to complete his conva- 
lescence after breaking his leg last April. 

The U.S. tour Oct. 20-23 would have 

See POPE, Page 8 



Alexander JwAgnvc France -Prow 

LANGUAGE OF SOLDIERS — An encounter between a Zairian and a Japanese soldier Friday at Goma airport in 
Zaire, where Japanese troops arrived to begin a UN-sponsored peacekeeping role on the Rwanda border. Page 8. 


Grim Scene at Hospital Illustrates the Depth of Haiti’s Desperation 


By William Booth 

Washington Past Service 

CAP- HAI TIEN, Haiti — The U.S. military's cam- 
paign to win the hearts and minds of Haiti began 
when Marines overwhelmed the old general hospital 
here with truckloads of free medical supplies. 

But the hospital offered a disturbing glimpse of 
how great the needs are in Haiti 

The open-air wards were lined with dirty, moldy 
mattresses; the stockrooms were almost bare. Al- 
though the U.S. -led embargo had allowed the ship- 
ment of medicine, economics had not Many import- 


ers could not be bothered while it was more lucrative 
to smuggle gas. generators and Heineken beer. 

Fritz Volmer, an orthopedic surgeon on the staff, 
said the public hospital had months ago resorted to 
rationing even bandages. 

In the women’s ward, Yolande Fleurimond, 57, 
lay under a mosquito net small as a child and thin as 
a bird, her limbs swaddled in yellowing gauze, the 
bright red and white blisters of burned skin covering 
almost half of her body. 

Navy lieutenant Chuck Miller, a physician, said 
the woman probably had had no better than a 5 


percent chance of survival before the medical sup- 
plies arrived. She was burned when the black-market 
gasoline she sold at the market caught fire. 

“They were doing the best they could for her, but 
they were only able to change her bandages once 
every three days," Lieutenant Miller said. "And they 
didn’t have the intravenous penicillin to fight her 
infections.’’ He estimated that with the supplies 
provided by the military, the woman's chances of 
survival rose to 75 percent 

Marine commanders in Cap-Hai'tien said their 
immediate concern now was the behavior of the 


Haitian military toward the people. As Lieutenant 
Miller and the Marines unloaded supplies, an old 
woman who had been hit with a rifle butt by a 
Haitian soldier appeared in the courtyard, her left 
eye covered with bandages. 

“There’s just been too much pushing and shoring 
and reports that they're going out at night and really 
thumping on the populace,’’ said Marine Lieutenant 
Colonel Steve Hartley, the commander of the U.S. 
troops in Cap-Hai'tien. "Our task now is to get this 

See HAITI, Page 8 


U.S. Lawmakers 
Agree to limit 
Lobbyists 9 Pull 

By Katharine Q. Sedye 

New York Tunes Service 

WASHINGTON — For the first lime in 
□early 50 years, Senate and House negotia- 
tors have agreed on a major overhaul of 
lobbying on Capitol Hill, banning lobby- 
ists from paying for everything from lavish 
resort vacations for members of Congress 
to the lowly, but ubiquitous, fruit basket. 

At the same time, however, Republicans 
m the Senate are trying to block another 
piece of legislation aimed at making 
changes in campaign financing. This bill 
would allow partial public financing of 
congressional elections and limi t the 
amount spent by candidates. 

The two actions come in the waning 
days of the 103d Congress in an election 
year when lawmakers are nearly in a panic 
over how they are perceived by the public. 

Congress wants to look as if it is taking a 
lough stance against receiving money or 
lavish gifts from lobbyists, whom the pub- 
lic perceives as the scourge of representa- 
tive democracy. But at the same time, some 
members of Congress are reluctant to re- 
strict how their own campaigns are paid 
for. 

The agreement would ban lobbyists 
from giving any gift to a member of Con- 
gress or to a staff aide, including payment 
for travel expenses, tickets to sports and 
entertainment events, and such presents as 
bottles of wine and fruit baskets. More- 
over, it includes a ban on all meals — a 
provision that has prompted some to pre- 
dict the decline of Washington’s flourish- 
ing restaurant industry. 

The only gifts permitted would be cam- 
paign contributions, attendance at politi- 
cal events and refreshments worm less 
than $20. 

The agreement covers all lobbyists: law- 

See LOBBYISTS, Page 8 




Bosnian Morass Takes Toll 
On British General 9 s Goals 


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Shmin CwsiO'Thc Avwmcil Pres> 

PLAGUE — Indians waiting Friday at a train station to flee the pneumonic 
plague in Surat, India. The fever has left at least 100 people dead. Page 8. 




By Roger Cohen 

New York Tima Service 

SARAJEVO, Bosnia-Herzegovina — 
Eight months ago an unusually charismat- 
ic British general arrived in this city vow- 
ing to open the roads, restore basic utilities 
and bring at least a semblance of normal 
life back to Sarajevo. 

Today, shelling of Sarajevo has virtually 
stopped' and, even the day after a NATO 
air strike, gunfire is rare. But the roads out 
of Sarajevo are sealed, the electricity, water 
and gas have been cut for nine days, the 
trams are no longer running and weary 
people are lining up again at Lhe river to fill 
containers with water. 

Meanwhile, Lieutenant General Sir Mi- 
chael Rose, the commander of United Na- 
tions forces in Bosnia, is in London. 

Officially, he is there on a routine visit. 
But senior UN officials said privately that 
a sharp conflict had emerged over whether 
General Rose should serve his full one- 
year term. Already, a replacement is being 
t^ed: Major General Rupert Smith, who 
commanded the British division in Lhe 
Gulf War, where he forged close ties with 
U. S. officers. 

General Rose's relationship with U.S. 
officials and NATO has become' increas- 


So. 34,-rt: 


ingly tense as (he situation in Sarajevo and 
Bosnia has deteriorated over the last 
month. NATO is eager to use air strikes 
against Bosnian Serbian guns, but General 
Rose believes such actions can easily prove 
counleiproductive. NATO and UN offi- 
cials said. 

Ian Lawrence, a spokesman for the Brit- 
ish Defense Ministry, said, “1 cannot con- 
firm or deny that General Rose will be 
leaving, but his lime is nearly up." Colonel 
Tim Spicer, a spokesman for General Rose 
in Sarajevo, denied that General Rose 
might leave Sarajevo before his term ends 
next Jan. 24. 

The fate of General Rose, a charismatic 
54-year-old former commander of the dis- 
tinguished unconventional warfare unit of 
the" British Army, the Special Air Service, 
has mirrored that of Bosnia this year. 

He arrived in January and seemed to 
personify hope as Serbian guns around 
Sarajevo' were pushed back in February, 
only to succumb gradually to the Bosnian 
morass that had exhausted his predeces- 
sors. 

In February, as a NATO ultimatum si- 
lenced Lhe Serbian artillery that had terror- 
ized civilians for almost two years. General 
See ROSE, Page 2 


North Korea 
Won’t Budge 
On Inspection 
Of Atom Sites 

Py ongy ang Angers l .S. 
By New Demand for 
A $2 Billion Payment 


Cijnpii.-J l<\ rt/iW' fv»: 

GENEVA — American and North Ko- 
rean officials ended a first day of talks on 
Pyongyang's nuclear program on Fndav. 
overshadowed by a fire: message from 
North Korea that it would not allow in- 
spections of two suspect atomic si to. 

North Korea also preempted a resolu- 
tion at the annual conference of the inter- 
national Atomic Energy Agency in Vien- 
na. which called f»»r full access to a!! 
nuclear information and location-*, includ- 
ing the two suspect plants. 

The United Stjics said this week u 
would address the issue of inspections dur- 
ing the Geneva talks, but Pyongyang sig- 
naled that pressure for Internationa 
checks could wreck an overall agreement. 

The chief U.S. negotiator. Robert L 
Gallucci, held four hours of talks with tin 
North Korean delegation leader. Katn 
Sok Ju. at the U.S. mission in Geneva. 

Both sides said they wanted to maki 
progress toward settling the nuclear issue 
But a North Korean Foreign Ministry 
spokesman warned Friday that Pyongyang 
would not yield to pressure to open up th« 
two plants! which it describes as militar 
sites. 

The spokesman, quoted by the officia 
Korean Central News Agency, said that “i 
the dishonest forces created difficulties ir 
the precision” on light-water reactors, b; 
insisting on special inspections. North Ko 
rea “would not feel the need to freeze it 
independent graphite-moderated reaeto 
program." 

Several unexpected new demands b; 
North Korea for Western cash and Ger 
man or Russian nuclear technology hav 
puzzled U.S. officials and dampene. 
hopes for a speedy accord in Geneva. 

The new demands include a request lha 
Washington arrange for a payment of S 
billion in cash, ostensibly as compensate 
for North Korea’s abandoning the deve! 
opment of its graphite-moderated reactor: 
which produce plutonium that can be use 
for nuclear weapons, in favor of ligh' 
water technology, which produces littl 
plutonium. 

Washington has demanded that Nort 
Korea scrap its reactors, arguing that the 
are solely meant to make "plutonium ft 
nuclear arms. North Korea agreed la: 
month that it would do so if Washingio 
arranged for the construction of two ligh 
water reactors, and helped arrange intern 
energy supplies. 

But it had not previously sought 5 
billion in cash, in addition to being fu 
rushed with the two light-water reactor 
valued at $4 billion. 

North Korea also has demanded th; 
these reactors be constructed by Germar 
or Russia, noi principally by South Kore 
as Washington has proposed. U.S. officia 
say this stance will greatly complicate i 
efforts to organize the construction of tl 
reactors, partly because neither Germar 
nor Russia is wilting to provide the bulk « 
the financing. 

Mr. Gallucci has called the new Nor 
Korean demands “ludicrous." 

The International Atomic Energy Age- 
cy. meanwhile, said it believed the tv 
buildings in North Korea were nude 
waste dumps and could hold the answer 
whether North Korea has produced ji 
concealed an unspecified amount of uca 
ons-grade plutonium. 

Delegates to the agency's annual confe 
ence voted, 76 to 1. with 10 abstentions, 
urge the North to allow inspections th 
See KOREA, Page 8 


Italy’s Loan Sharks, Enriched With Aid of Banks, Face Crackdown 


By John Tagliabue 

New York Tima Service 

TURIN — Ciro Tronnolone, 44, an ex-convict, 
was arrested at the Porta Susa train station this 
summer after be was denounced for usury. At the 
time of his arrest. Mr. Tronnolone was pocketing 
cash in lire worth the equivalent of S3 1,000 from 
Giorgio BallestrazzL, who owns the newsstand at the 
station and had earlier borrowed $19,000 from Mr. 
Tronnolone at 15 percent a month interest, a bargain 
at current market rates. 


Belatedly, Italians have discovered that a banking 
system too sclerotic to serve the needs of merchants 
and small businesses has created a vacuum imagina- 
tively filled by tens of thousands of free-lance lend- 
ers. And so, one by one, Italian cities are cracking 
down on a vast network of loan sharks. 

It is a last-gasp attempt to rid the country of an 
illegal industry that boomed in the recession, when 
merchants and small businesses craved capital the 
banks could not — some say would not — supply. 
But it is also an effort to hall the flow of money from 


drugs and other illegal sources into the legitimate 
economy. 

In Bergamo, eight people were arrested recently 
for organizing a money-lending business asking an- 
nual interest rates of 300 to 500 percent, after one 
borrower hanged himself when he could not meet 
payments. 

The police in Ravenna arrested Giuseppe Occhi- 
pinti and seven associates and charged them with 
usury. Their company, called Much Money, had 
revenues of $1.2 million a year. 


In Naples, the local merchants' association, la- 
menting that “the situation ha"; become unbearable, 
the sharks are devouring us." set up a toll-free hot 
line for people in the dutches of lenders. In the first 
hours, it was swamped by calls. 

This month, the government of Prime Minister 
Silvio Berlusconi, the lycoon-tuincd-poliiiciun who 
was elected in March promising to fix the lamentable 
stale of Italian financial services, proposed a tough- 

See LENDERS, Page 8 




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***** 


m Down Kg p 

i 5 38 1 i 

The Dollar c- ^ 

Maw Yoifc. F" P” 8 

DM 1-5468 

Pound 1-577 

Yen ""9T83 

FF 5.2935 


UP ^ 

0.30% § 

115.49 H 

previous doss 
1.5455 

1-575 

98.05 

5.2875 


Newsstand Prices 

Andorra .....9.00 FF Luxembourg 60 L Fr 

Antilles 11JMFF Morocco l? Dh 

Cameroon*! ,400 CFA Qatar 8.00 Rials 

Egypt E.P.50Q0 Reunion. ... 1 1.2G FF 

France 9.00 FF Saudi Arabia ..9.00 R. 

Gabon 960 CFA Senegal W0 CFA 

Greece — ... J00 Dr. Spain ..... J00 PTAS 

Holy .2,600 Lire Tunisia ....1 JXJ0 Din 

Ivwv Coast .1.120 CFA Turkey ~T.L. 35,000 

Jordan. 1 JD U.A.E .SiiODIrtl 

Lebanon ...US$1.50 U.S. Mil. (Eur.) S1.10 


Getting Lost on the I- Way to the Future 


Kiosk 


By Steve Lohr 

New York Tima Service 

PHOENIX — At a gathering here of leading computer and 
telecommunications executives, AT&T showed a video the 
company shot recently on the streets of Manhattan. 

The video crew had asked passersby a single question; 
“Where can I find the on-ramp to the information highway?" 

“Take a left on Houston Street, and keep going straight,” 
one man replied. 

“Gee, Tm not sure,” a woman said. “I’ve been there a million 
times, but I can’t remember. Ask Reynaldo, the doorman.” 

Confusion about the information highway — a term as 
evocative as it is vague — extends far beyond the sidewalks of 
Newr York. 

When the AT&T video was shown here earlier this week, it 
brought chuckles and nods of recognition from the audience at 
Agenda, an annual conference attended by a few hundred of 
the senior executives from the high-tech industries of personal 


computers, software, telecommunications and oD-line comput- 
er services. 

They, too, are wandering in search of the on-ramp to the 
information highway, believing it will be the path to their 
companies’ future growth. 

Yet, beyond a belief in the importance of the information 
highway, there was little agreement here about the timing, 
course and business opportunities ahead. 

The information highway is a catch phrase for an evolution 
that will unfold over the nett decade or so. as the technologies 
of the computer, telephone and television converge. 

Many people expect to be able to tap a few buttons on a 
high-speed, high-capacity information conduit in their homes 
to order and receive everything from Hollywood movies to 
books from the Library of Congress. 

That, at least, is the vision of the information highway that 

See HIGHWAY, Page 3 


Gaza Police Seal 11 Tunnels to Egypt 


RAF AH, Gaza Strip (AP) — Palestin- 
ian police sealed 1 1 tunnels between the 
Gaza Strip and Egypt that had been used 
to smuggle weapons and drugs as well as 
PLO activists on the run. 

The Palestinian police commander, 
Mcyor General Nasr Yousef, said Friday 

Summer Time Ends 

Most countries in Europe will put 
their clocks back an hour during the 
night of Saturday to Sunday, ending ofr i- 
cial summer lime. Britain will revert to 
Greenwich Mean Time on Oct. 23, and 
daylight time in the United States and 
Canada ends a week later. 


that the police had discovered drugs an> 
had broken up the smugglers’ network* 
"We are using an iron fist against ai 
those who pose a threat to our security, 
he said. 

Palestinian activists constructed th 
tunnels as escape routes to Egypt durin 
the six-year uprising against Israeli oceu 
p3tion. Some tunnels stretched sever; 
hundred yards, from the center of Rafa 
across the border into Egypt. 

Major Yousef said Egyptian official 
were alerted to the discovery, and addet 
"Our people don’t need ihese tunnel 
anymore." 


Book Review- 


Page i 


/ 





Page 2 


INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 24-25, 1994 




Conservatives Ride High Into Bavaria’s Election 


- Agent* France- Press e 

MUNICH — Bavaria’s governing Christian Social 
*' Union is expected to win the election Sunday for state 
• lawmakers, after riding out a series of scandals. 

I The vote in Bavaria, Germany s wealthiest state, is 
■ being watched closely because it is the last major poll 
before federal elections Oct. 16. 

Only last winter, political commentators were pre- 
dicting that the unbroken 37-year reign of the conser- 
vative Christian Socialists — the Bavarian branch of 
Chancellor Helmut Kohl’s Christian Democrats — 
was over. 

Several corruption scandals, and the death in 1988 


The latest opinion poll by the Baric Research Insti- 
tute predicts a clear 52 percent Christian Socialist 
victory Sunday. 

Premier Edmund Stoiber, whose party dean-up 
campaign is credited with restoring the Christian So- 
cialists' image, says the success is due to Bavaria’s 
“economic miracle.” 


Several thousand supporters of the Christian Social- 
ists, the party of federal Finance Minister Theo Wai- 


gei, turned out here Thursday for a final rally to hear 
Mr. Stoiber extol the ration’s assets. 


of the party head, Franz Josef Strauss, unleashed 
internal battles that threatened party unity. Two key 


internal battles that threatened party unity. Two key 
officials, including Premier Max StreibL were forced 
to resign in less than a year, and the party slumped in 
opinion polls. 

But the tide tinned in June with the European 
elections. The Christian Socialists won nearly 50 per- 
cent, crushing the main opposition Social Democratic 
Party, which took 23.7 parent 


Mr. Stoiber extol the region's assets. 

“Of all Germany's states, Bavaria is the richest” he 
said, noting that its 6.8 percent unemployment rate is 
well below the 9.1 federal average. 

In the countryside, the party benefits from active 
support of the influential Catholic clergy and draws on 
German symbols, holding rallies under traditional 
“beer tails" while folk orchestras play German tunes. 
Few there seemed bothered by party scandals. 

Among critics of the Christian Socialists, Christian 
Mageri of the Green party said Bavaria was “run like 


certain South American states where corruption is pan 
of the system and where many people feel a president 
unable to make a personal prom won't be able to do 
anything for us either." 

The Christian Socialist Party is the sole exclusively 
state party that plays a role in Bonn, as a partner in the 
ruling coalition. 

Bavaria’s 8.7 million voters will choose from 15 
parties Sunday. 

In the 1990 state elections, the Christian Socialists 
wot 127 seats in the assembly, the Social Democrats 
58, the Greens 12 and the Free Democrats 7. 

The Social Democrats are expected to win 29 per- 
cent Sunday. 

Another key party, the Free Democrats of Foreign 
Minister Klaus Kinkti, has only 3 percent support in 
polls, lower than the 5 percent needed to remain in the 
state parliament. 

The extreme-right Republicans, which failed to en- 
ter the body in 1990, are expected to slip in this time, 
with 5 percent support in polls. 


Serb Army 
Hits Back at 
UN Force 
In Bosnia 


Compiled by Our Swff From Dapottha 

SARAJEVO, Bosnia- Herce- 
govina — Bosnian Serbian 
forces have increased their at- 
tacks on United Nations peace- 
keepers since North Atlantic 
Treaty Organization warplanes 
destroyed a Serbian tank near 


Sarajevo, a UN spokesman said 
Friday. 


Friday. 

Three NATO planes hit the 
T-55 tank on Thursday after a 
series of Serbian attacks on UN 
soldiers and vehicles. 

The Bosnian Serbian army 
immediately threatened retalia- 
tion. “the time and place of 
which will be set in the future." 

General Ratko Mladic, the 
Bosnian Serbs’ commander, 
added: “It is not just a matter of 
retaliating against NATO, it is 
also against those who ordered 
the planes to take off." 





RiX.inj Lman/The Anmnol Pm. 

Two of the French UN peacekeepers, atop a tank in Sarajevo on Friday, who were attacked by Serbs while on patrol. 


Tension remained high in the 
tdon as the United Nations 


region as the United Nations 
Security Council moved toward 
the expected adoption of a reso- 
lution easing air travel and oth- 

slav stafe^as a reward^or 
blocking supplies to the Bosni- 
an Serbs. 

At the same time, the 15- 
member body was likely to 
tighten travel and economic re- 
strictions on the Bosnian Serbs 
as punishment for rqectmg an 
international peace plan. 

A UN spokesman. Tim 
Spicer, said the Bosnian Serbs 
had followed op with more at- 
tacks, but he said the overall 
military situation was stable. 

Direct targeting of UN per- 
sonnel by Bosnian Serbian 
forces increased around Gor- 
azde in the southeast and Bihac 
in the northwest. A mortar shell 
landed near a UN observation 
post near Bihac. When the post 
commander went to inspect die 
crater, be was slightly injured 
by another shdL 

The air strike was the first in 
several weeks and followed 
growing frustration over the 
Sabs* flouting of the ban on 
heavy weapons within a 20 -ki- 
lometer ( 12 -mile) zone around 
Sarajevo. 

The United Nations gave the 
Bosnian Sabs two days’ notice 
of a possible attack and 30 min- 


Lithuania Admits Crimes Against Jews 


By Stephen Kinder 

Nr** York Tunes Service 

VILNIUS, Lithuania — In the first 
public effort by a Lithuanian leader to 
atone for crimes that Lithuanians com- 
mitted against Jews during World IL 
Prime Minister Adolf as Slezevidus ap- 
peared on national television to urge 
citizens to acknowledge and repent 
shameful aspects of their country’s histo- 
ry. 

“During World War 1L ova 200,000 
Lithuanian Jews were killed,” Mr. Sleze- 
vidus said Thursday. “Despite the fact 
that this Holocaust was the realization of 
Nazi policies in our country, we should 
recognize that hundreds of Lithuanians 
took direct part in this genocide. This 
obliges us to repent and ask the Jewish 
people for forgiveness for the unjust suf- 
fering inflicted on our fellow Lithuanian 
dozens. 

“I would also like to say that the 
government of Lithuania assumes re- 
sponsibility for prosecuting those who 
partidpatttl in murder." he added. 

Mr. Slezevidus also ordered that at all 
official buildings, black crepe signifying 
mourning be flown alongside the Lithua- 
nian flag on Friday, the 51st anniversary 


of the Nad-led liquidation of the Vilnius 
ghetto. 

“The speech is 3 step forward, but it 
doesn't go far enough,” Efraim Zuroff, 
who heads the Jerusalem office of the 
Simon Wiesenthal Center, said in a tele- 
phone interview. “In the first place, 1 
don't accept their numbers. Thousands 
of Lithuanians were involved in the mur- 
der of Jews, not hundreds. And second, 
their pledge to go forward with prosecu- 
tions is a lot of baloney. We have seen no 
effort on ihdr part to extradite Lithua- 
nian war criminals from the United 
States and other countries and bring 
them back for triaL” 

This week, however, federal prosecu- 
tors in Boston asked a judge to revoke 
the citizenship of an 87-year-old Lithua- 
nian immigrant, Aleksandras Lileikis, 
who they said had headed a secret police 
unit that handed ova Jews to Nazis to be 
pat to death from 1941 to 1944. The case, 
officials said, retied heavily on archives 
recently made available by Lithuania. 


[Lithuanian officials said they proba- 
ly would prosecute Mr. Lileikis if he 


bty would prosecute Mr. Lileikis if he 
were deported. The Associated Press re- 
ported. if his crimes are dear and he is 
deported to Lithuania, he will be tried 
ana could be jaded," said Vidmantas 


Vaiciefcauskas. a prosecutor in Vilnius. 
He would face a maximum life sentence 
in prison.] 

Before World War 11. 240,000 Jews 
lived here. Only about 15 percent sur- 
vived the Holocaust. 

Mr. Slezevidus. who said in an inter- 
view before his speech that his parents 
hid Jews in their home in World War 1L 
plans to visit Israel next month. 

The speaker of the Israeli Parliament. 
Shevach Weiss, met with Lithuanian 
leaders in Vilnius last month. In a tele- 
phone interview, he said he expected that 
demonstrators would protest against Mr. 
Slezevidus when he came to Israel, but 
added that he considered the visit to be 
positive. 

“I personally consider the new Lithua- 
nian prime minister to be a good man," 
Mr. Weiss said “There are some people 
in Israel, especially those with Baltic her- 
itage, who think of Lithuania as one big 
tragic, terrible and surrealistic cemetery 
of our nation. This is not an easy stereo- 
type to change. But I believe this visit 
will help to show that Lithuania recog- 
nizes the past and now understands the 
importance of opposing all forms of rac- 
ism and xenophobia.’’ 


arriv^T^^tiiere would-be no ROSE: Bosnia Takes Its Toll on British General Commanding UN Forces 

human nacnalf ipr M The tank Cs 


human casualties." The tank 
was believed to have been un- 
manned when it was hit 

Although Russia, a member 
of the contact group that has 
drawn up a peace plan for Bos- 
nia, has criticized NATO air 
intervention before, it backed 
the latest attack. 

Foreign Minister Andrei V. 
Kozyrev said the UN force, 
which has Russian members, 
had to be defended with all pos- 
sible means. (Reuters. AP) 


Continued from Page I 

Rose declared, “I want to re- 
store electricity, collect the gar- 
bage, establish a postal service, 
open up routes out of the city." 
The determined glint in his pale 
blue eyes suggested that a new 
era had dawned. 


“This is the Balkans, you and this was no more than a sharply this month with NATO 
know." passing low after a period in ova plans to carry out air 


passing low after a period in ova plans to carry out air 
which Sarajevo life unproved strikes against guns firing on 


the Bihac pocket in western 


In the current standoff with Bomia. He also urged patience 
the Bosnian Serbs over their de- respect to Serbian artillery 


Today, with garbage piling 
up, roads closed, and the mem- 
ory of electricity fading again, 
the general is fond of repeating: 


Republicans Take 
Control of CI.S. Senate 


Asked this week why his vi- wmen Sarajevo me unproved struces against guns firing on 
sioa of a revitalized Sarajevo markedly. the Bihac pocket in western 

bad evaporated. General Rose In the current standoff with dso urged patience 

could scarcely contain his rage- the Bosnian Serbs over their de- with respect to Serbian l artillery 
“I am totally refuting the al- cision to cut off utilities in Sara- s™ Wlt f m . 1 2-S-tme weap- 
legation that the thin g* prom- jew, General Rose has found °“s exclusion zone around Sa- 
ised have not happened,” he himself confronted once again raj^ 0 - 
said, “and I certainly don’t like by the basic dilemma that has The general’s new caution re- 
tire inference that we are not confounded international ef- Beets what appears to have 
maifing progress." Lata, he ar- forts here: Turn up military been a profound shift in his 
gued more calmly that highs pressure on the Sabs and the position, 
and lows were inevitable in a tensof thousands of UN peace- He arrived talking of sophis- 
situation as complex as Bosnia, keepers under the general's heated electronic surveillance 

command in Bosnia become that would allow swift use of air 

potential targets for reprisaL stikes, but now says only pa- 

lIMn/FBSrrV nrc piT I It is because the Clinton ad- ti ® 106 0311 results. 

| ministration has chosen not to “There’s a feeling among 


situation as complex as Bosnia, 


UNIVERSITY DEGREE 


What would you give to see this headline on 
November 9. 1994? Five minutes of your time and 
your absentee vote could make it happen* 

For absentee voting information call your U.S. Consulate or 
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He arrived talking of sophis- 
ticated electronic surveillance 
that would allow swift use of air 
stikes, but now says only pa- 
tience can bring results. 

“There’s a feeling among 


have American troops on the some people that General Rose 
ground in Bosnia, and has re- might have exhausted himself 


peatedly argued the most and that the cooler hand of 
strongly for the NATO air General Smith might now be 

.1 f .V- l.. « 99 - : J — 2 I T TV7 


strikes that might endanger the beneficial,” said one senior UN 
British, French and other official. General Smith, 51, has 


Pacific Western Umveis 

2875 S. King Strati, Dept 23 
Honohi Si. HI esiiS 


troops hoe, that General Rose followed the Bosnian situation 
has apparently lost patience dosely in his current job as as- 


with the U. S. position. 
Officials said he had clashed 


sistant chief of defense staff op- 
erations and security. 


4 Charged 
With Arson 
At German 


WORLD 


U.S. Allows Sinn Fein Chiefs 2d Visit 


Synagogue 


WASHINGTON (AP) — The drawn i adatim5trai^»|&i. 
day approved another visit by Gerry Adams, head or the Irish 
Republican Army’s political arm, Sinn Fan, on the beds of totes 
by rival factions in Northern Ireland. . ' . -1 1 

The approval came a day before Mr. Adams is to arrive m 
Boston, the State Department said- Mr. Adam* last 


Compiled by Our Staff From Dupauha 

BONN — Federal prosecu- 
tors said Friday that they had 
charged four youths with arson 
and attempted murder in the 
firebombing of a synagogue in 
the north Goman port city of 
Lfibeck. 

The attack, on March 25, 
marked the first time a Jewish 
house of worship had been set 
on fire since the Nazi years. 
Five tenants asleep in apart- 
ments in the budding escaped 
unhurt. 

The four suspects carried out 
the attack “out of hate against 
foreigners and Jews," the Fed- 
eral Prosecutor’s Office in 
Karlsruhe said. It said the sus- 


United States in January, which required a landmark decirioahy 
President Bill Clinton to waive the Dan on visas for MtyQa^atn 


links to terrorism. The same waiver was required this - thwkbut 
provoked less of a dispute because of peace initiatives aa&the 
IRA’s declared cease-fire. . -.J[_ 

Mr. Adams’s tour follows visits this week by four mestibos ©I 
the Ulster Unionist party, a voice of the pro-Bntish Protestant 
voters, and J ohn Hume, a leading Catholic politician. AH met with 
politicians on Capitol H3L and at the White House with Vice 
President Al Gore. Mr. Hume also met with Mr. CHnton. 


Turkey Bombs Kurdish Stronghold 


pects, who were arrested May 2, 
were Stefan-Marcus Westphal, 
25; Dirk Brosberg, 22: Niko 


TrapieL, 20, and Boris Holland- 
Moritz, 20. 

All woe charged Thursday 
with arson and five counts of 
attempted murda, the prosecu- 
tors said. 

The young men, the prosecu- 
tors said, went to the syna- 
gogue on Sl Annen Street at 
about 2:15 A.M. Two or three 
of the accused walked onto an 
open porch of the synagogue, 
emptied inflammable liquid 
from a bottle, and then threw a 
firebomb to the floor, the prose- 
cutors said. 

Flames spread quickly, but 
the five tenants were unhurt be- 
cause neighbors beard glass 
breaking and woke them up, the 
statement said. 


TUNCELI, Turkey (Reuters) — Turkish aircraft and troops 
mounted a major operation Friday to wrest the last remaining 
mountain stronghold from an estimated 3,000 separatist Kurdish 
guerrillas in the eastern province of Tuncdi. 

Planes began the second day of the cam p aign by bombing the 
Munzur mountain c hain and Kutuderesi ravine, a valley expend- 

ble by surrounding forests. Hdicopwr gunships resumed sorties 
on Friday, tutting dopes and rock overhangs likely to conceal 
guerrillas. - ■> 

About 5,000 mountain commandos have been arriving m recent 
days from nearby provinces and training camps, military officials 
said. 


Nigeria Bars Trip by Nobel Laureate 


LAGOS (AP) — The military government, damping down on 
its critics, has seized the passport of the Nobel Laureate Wole 
Soyinka, preventing him from traveling to ft human rights confer- 
ence. 

Government radio said Mr. Soyinka, awarded the Nobel.Prize 
for Literature in 1986, was stopped at Lagos airport on Thursday 
night as he tried to board a plane to Stockholm. 

Mr. Soyinka is an outspoken critic of General Sani Abacha's 
military regime. The writer has brought a lawsuit, asking the 
Federal High Court to declare the administration iHcgaL The case 
opened Wednesday and was adjourned Thursday until next.Tuea- 
day. 


2 Die as 0130 Crashes in Hong Kong 


HONG KONG (Ain —A chartered 
irrying 12 crew members crashed intt 


C-130 Hercules 


transport 
off Hone 


In a related development, the 
Bundestag passed a bill Friday 
that threatens five-year jail 
terms for denying the existence 
of the Holocaust. It will become 
law Dec. 1. The bill also bans 
signs that even resemble Nazi 
symbols. (AP. Reuters) 


Italy Seizes 
6 in Graft 
Inquiry 


The plane crashed in light rain while taking off from Kai Tak, 
which has one runway that juts into Hong Kong’s harbor. Divers 
and rescue workers were searching die plane, which was sub- 
merged in murky water, for the missing crew members- It was the 
second crash in less than a year at Km Tak. 

The plane had earlier taken a group of Vietnamese “boat 
people" back to their country. Operated by Pefita Air Service of 
Jakarta, the Hercules was chartered by the British Heavy Lift 
Cargo Airlines for the Hong Kong government It had returned 
from Hanoi and was taking off for Jakarta when it crashed. 


2 Papuan Lawmen Held as Looters 


Reuten 

MILAN — Italian magis- 
trates investigating the fashion 
industry have served arrest war- 
rants on six people, judicial 
sources said Friday. 

They said five of the suspects 
were tax inspectors and that 
three of them were had been in 
custody in connection with alle- 
gations of other kickback of- 
fenses. The other suspect is 
Luigi Monti, chairman of the 
clothing manufacturer Basil e, 
which went into liquidation last 
year. 


RABAUL, Papua New Guinea (Reuters) — Two Papua New 
Guinea police officers were arrested for looting on Friday, as 
authorities struggled to restore law and orda in the almost 
deserted town of Rabaul — half-buried in ash after five days of 
volcanic eruptions. 

Looters have been rifling through shops and homes since the 
town was evacuated early Monday after the eruptions of the 
volcanoes Vulcan and Tavurvur, on other side of RabauL They 
continue to billow clouds of smoke. 

Up to 100 armed policemen were moved into the town in the 
east of New Britain island on Thursday, with orders to shOot 
looters who ignored warnings. But a source in tfie security forces 
said there was also concern about police looting. On Friday, the 
source said, two policemen were arrested with a van laden with 
stolen goods. 


14 Killed in Pinatubo’s Mudflows 


The moves follow recent 
questioning by an ami-graft 
magistrate, Antonio Di Pietro, 


of three top figures in Milan’s 
fashion industry. 


fashion industry. 

The three — Santo Versace, 
head of Gianni Versace fashion 
house and brotha of the de- 
signer, the couturier Krizia and 
thejewdiy designer Gianmaria 
Buccellati — have not been in- 
formed that they are trnda in- 
vestigation. 

A fourth fashion business- 
man, Barile’s forma manag in g 
director, Nicola Di Lucdo, was 
questioned by Mr. Di Pietro on 
Wednesday. His lawyer, Raf- 
faele Di Palma, said Mr. Di 
Lucdo had told the magistrate 
he had been a “a victim of ex- 
tortion" by a tax inspector, in 
return for a favorable audit. 


BACOLOR, Philippines (Reuters)- — Thousands of Filipinos 
fled their homes on Friday as steaming mudflows from Mount 
Pina tube volcano buried hundreds of houses and swept cars and 
trucks off highways, killing at least 14 people. 

Hundreds of villagers were trapped on the roofs of thdr homes 
and awaiting rescue by army helicopters after swirling walls of 
mud crashed through 13 villages in F&mpanga Province north of 
Manila, relief officials said. 

Mudflows have been a constant threat during rainy weather 
ever since Pinatubo erupted in 1991, dumping millions of tons of 
ash and debris on the volcano’s flanks. More than 800 people were 
killed after the 1991 eruption, one of the century’s biggest volcanic 
blasts. 


TRAVEL UPDATE 


New York Chy Invaded by Tourists 

NEW YORK (NYT) — Helped by favorable exchange rates 
and a growing domestic economy, New York City drew more 


tourists this s umme r than in any erf the previous six years. 

Not only did tourists visit attractions uke the Statue of Liberty 
and the Empire State Building in increasing numbers, but many, 
particularly those from overseas, ventured to less likely destina- 
tions, like Brooklyn and Harlan. 

“Tins has been the best summer in recent memory," said a 
spokesman for the city’s Convention and Visitors Bureau. “For 
starters, New York is now more affordable for foreign tourists, 
and we’ve gotten a lot of good coverage lately in travel trade 
m agazines." The outlook for the rest of the year is also strong, he 
said. 

Taiwan, where tourism is booming after visa regulations were 
cased, plansto further extend the poiod many foreigners may 
stay on the island without applying for visas. Last January, to 
oounta a decrease in the number of tourists, Taiwan began 
allowing citizens from 12 countries to visit the island for five days 
without applying for visas. (Reuters) 

Tighter safety regulations for operators of air tours in Hawaii 
have been ordered by the federal government after 24 fatalities in 
the past three years. (AP) 

"H* fire* commercial high-speed ma gma fr train was 

fnday by Germany’s partiamenL ItwtiTmov* passen- 
gers 260 kilometers, from Hamburg to Balm, in under one hour. 
Tbe government pledged $33 billion to build the system, which 
will operate at 425 kDozneters pa hour, by the year 2004. (AP) 


■ Penaon Reform Stalled 
Italian ministers failed 
Thursday to agree with trade 
unions on pension reform, cast- 
ing a shadow ova an important 


part of the 1995 budget a week 
before the deadline for presen- 


betore toe deadline lor presen- 
tation to Parliament, Reuters 
reported from Rome. 

After what was characterized 
as a last-ditch meeting to re- 
solve the issue, union leaders 
said they had agreed only to 
hold more talks Monday. 

By law. Prime Minister Silvio 
Berlusconi's government must 
present the budget to Parlia- 
ment by the end of September. 


1 hour, by the year 2004. 



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Page 5 


WMMmiCAS_t 

Republicans Act to Grab Initiative in Midterm Elections 


By David £. Rosenbaum 

Sew York Timet Service 

Washington — - Politicians in 

both parties remember well the last 
time mere was a midterm election with 
a Democrat in die White House. It was 
1978. Republicans from coast to coast 
promised tax cuts. The Democrats did 
not take than seriously. 

The Republicans did not do so well 
that year, picking up only three seats in 
the Senate and 1 1 in the House. But 
the tax cut idea took hold. Two years 
later, Ronald Reagan rode it into the 
White House. Republicans won the 
Senate and gained 33 seats in the 
House. 

So this year. Republican strategists 
have hastened back to 1976 and have 
broken again with the custom that off- 
year elections are not national plebi- 


scites. but merely 435 separate elec- 
tions for the House and 35 or so for the 
Senate. 

This week, 16 Republicans who are 
running for Democratic or open Sen- 
ate seats presented a seven-point plan 
that they promised to implement if the 
Republicans win control of the Senate 
on Nov. 8 . Republican candidates for 
the House plan to offer a similar list 
Tuesday. 

Point No. 1 on both lists is a consti- 
tutional amendment requiring a bal- 
anced budget With seeming shame- 
lessness, other points include tax cuts 
and more money for the military. 
Spending reductions are not specified. 

But unlike 1978, Democrats this 
year are not sitting on their hands. 
Instead, they launched a preemptive 
strike. 


Before the Republican candidates nia, chairman of the Democratic Con- 
made their announcement, lop While gressional Campaign Committee, held 
House officials met with a couple of a news conference' on the Republican 
dozen reporters and columnists to de- plans. They were nothing more, he 
nounce the Republican plans — which said, mixing metaphors, than “aeneral- 
they had not yei seen in any detail — ized cotton candy without a 'bottom 
as fiscally irresponsible. line.” 

A few hours later, the While House -ru-n a . ^ t 

wit decriS Democralic ^der, Representative 
velt Room to hear the plans decried Richard A Gephardt of Missouri, se- 

agaan. Reaching for ihe kind of snappy ^ Democrat on tie BudgTcom- 


phrase that might be remembered by 
voters. Laura D’ Andrea Tyson, chair- 
man of the Council of Economic Ad- 
visers, called ihe Republican plans 
“Voodoo II." a reference to George 
Bush's description of Mr. Reagan's 
economic proposals in the 1980 presi- 
dential primaries as "voodoo econom- 
ics.” 

Representative Vic Fazio of Calif or- 


roirt.ee called yet another news confer- 
ence about what the Republicans were 
up to. “It looks like Reagan redux to 
me,” said Representative John M. 
Spratl Jr. of South Carolina. 

At this poinL the plan offered bv the 
Republican candidates for the Senate 
consists of only three pages; the House 
proposal only one paragraph. But this 


time the Democrats swear thev will not 
be caught by surprise. 

"Unless we energize our people,” 
said a Democratic strategist, “we’ll be 
right back where we were in 1930.” 

With that in mind. Mr. Gephardt 
ordered a professional staff review of a 
proposal by Representative Richard 
K- Armey. Republican of Texas, to 
scrap the current income tax svstem. 
with its progressive rates and man v 
deductions, and replace it with j fiat 
tax of 17 percent on personal income 
and business profits. 

The staff review was somewhat in- 
conclusive but found that under one 
interpretation, Mr. Armey’s sketchy 
proposal would reduce federal revenue 
by more than S200 billion a year. Mr. 
Armey shrugged off such a calculation 
as the work of a partisan staff. 


Wanted: Ideal Jury 
For Simpson Trial 

By David Margolick 

New York Tuna Service 

NEW YORK — Men rather than, women, black men if 
possible. Older people rather than younger. Discerning rather 
than deferential. Shepherds rather than sheep, football buffs, 
not football widows. • 

And though there are no longer any blank slates when it 
comes to O. J. Simpson — “If you get people who don't know 
anything about this case, they must be total idiots.” the 
defense lawyer Getty Spence remarked — it’s better dial they 
get their news from Newsweek than The Star, a racy tabloid. 

Among lawyers and jury consultants that is the consensus 
prescription for Mr. Simpson’s ideal juror, the type his legal 
team would seek on Monday, when jury selection in the case 
involving the former football star is scheduled to begin. 

Jury selection, experts agree, is perhaps the crucial phase of 
the case — matched, says Roy M. Black, a defense lawyer, 
only by Mr. Simpson’s eventual appearance on the stand. 

^Everything dse in the case is not even in the same 
universe,” said Mr. Black, who successfully defended William 
Kennedy Smith against rape charges in 1991. “You’ve got to 
put people on the jury who are willing to listen to what he has 
to say.” 

But this case's rules of thumb on jury selection, while 
widely shared, are not universally held. Jury selection re mains 
one of the last refuges of ethnic, racial and sexual stereotypes, 
a process in winch political correctness has no place. But in 
deciding who mil decide Mr. Simpson’s fate, these stereo- 
types are often contradictory. 

Women, particularly white women, particularly those who 
know bad marriages or abuse, may be more likely to empa- 
thize with the slam mother of two children, but they could 
also be more likdy to fall in love with a dashing defendant. 

Blacks may be more wary of law enforcement, more in- 
dined to think that Mr. Simpson was set up by the police. But 
they may be just as inclined to resent such assumptions, and 
bend over backwards to assert their independence. 

Law-and-order types may favor the prosecution, but they, 
more than others, could be offended by what the defense has 
characterized as bungling by the police. Younger jurors may 
be more conservative than middle-aged jurors, more inclined 
to see Mr. Simpson as huckster and hack actor than hero, but 
their minds are supple enough to attend to long, tedious 
testimony, and thereby spot cracks in the state’s case. So 
would more intelligent jurors, but too much scientific sophis- 
tication may make them easily dazzled by the DN A testing. 

In a sense, “jury selection” is a misnomer. It is more a 
matter of deselection, damage control, forensic triage. Each 
side may challenge an. unlimited number of candidates as 
being biased, but only 20 for any other reason or no reason at 
aB — so-called peremptory challenges. 

“You’re not selecting people but eliminating those you find 
offensive,” said Gerry Goldstein, president of the National 
Association of Criminal Defense Lawyers. “What you get is 
what’s left over, the people who don’t tell you very much.” 

■ Judge Warns Media and Allows Prosecution Evidence 
The judge in the case put the media on notice Friday about 
inaccurate reports and allowed most of the evidence seized in 
searches erf Mr. Simpson’s home, The Associated Press re- 
ported. 

Judge Lance Ito, on the final day of a pretrial hearing, ruled 
that the prosecution could use most of the evidence obtained 
in a search of Mr. Simpson’s home, including an apparent 
farewell note from his former wife. The hearing started with 
the judge singling out a Los Angeles TV station for what he 
called erroneous reports on DNA evidence. “1 am contem- 
plating terminating the media coverage in this case.” he said. 


Away From Politics 


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• The U.S. Navy has canceled training and drills for thou- 
sands of reservists for the rest of the month because the Naval 
Reserve has run out of money. About 20,000 members of the 
Naval Reserve who would have reported this weekend for 

' training-have been told not to appear. 

• A New Yorit Oty Council surrey of 800 youths found that 
more than one- third of them have carried a gun at some point 
and that one-sixth do so regularly. The random survey asked 
people aged 12 to 21 in 15 neighborhoods with a high 
homicide rate and in 15 neighborhoods with a low rate. The 
results were virtually the same in both. 

• An explosion of foreigners is rapidly changing the face of 
the United States, according to a report released by the 
Population Reference Bureau. It said an average of 3,000 
immig rants, legal and illegal, arrived each day. 
e Two wifely used food preservatives raised levels of a natural 
cancer fighter in laboratory animals and appear to do the 
same in humans, a researcher reported. Dr. Andrew Dannen- 
berg of Cornell Medical College found that the preservatives 
BHA and BHT “revved up” the gene for an enzyme that helps 
destroy carcinogens before they trigger tumors. 

• Me asles has been sharply on the rise is tire United States 
this year, doe largely to an outbreak among Christian Scien- 
tists, who often shun modem medicine. The federal Centers 
for Disease Control and Prevention in Atlanta reported 730 
cases among adults in the first half of the year, more than 
double the record-low total of 312 registered for all of 1993. 
Nearly half those afflicted were Christian Scientists. 

• In the fast settlement of its kind, a Texas man who tested 
positive for the AIDS virus will receive $100,000 in damages 

o';:. . and penalties from a dentist who refused to continue to treat 
' • him, the Justice Department said. 

- » 7 » NTT, AP 




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Border Unit Puts the Spotlight on Aliens 


By Roberto Suro 

Washington Pm Sernec 

SAN DIEGO — Deep and 
dark. Smugglers Canyon long 
ago earned its name as a place 
for those who seek to enter the 
United States unseen. But now 
the Clinton administration has 
turned on the lights in an at- 
tempt to transform this 14-mile 
stretch of the border with Mexi- 
co. 

When the sun drops inio the 
Pacific, light panels atop long 
wooden poles begin to bum and 
brighten. They shine south to 
the head of the canyon where 
drug runners and illegal immi- 
grants have gathered nightly for 
decades. 

Instead of sheltering dark- 
ness there is an artificial day 
bright enough to read by. 

Just getting into the canyon 
from Mexico requires scaling a 
1 0-foot (3-meter) fence. U.S. 
Border Patrol agents, who a few 
years ago had no easy means to 
reach the canyon, now drive up 
newly bulldozed roads to 
watch, wait and then move into 
action. 

Most of the effort so far has 
been aimed at dissuading Mexi- 
cans from crossing here illegal- 
ly. But now, as the Clinton ad- 
ministration prepares another 
offensive against the illicit traf- 
fic, its greatest challenge lies on 
the U.S. side of the border. 

With California politicians 
led by Governor Peie Wilson, a 
Republican, heaping abuse on 
Washington for failing to con- 
trol illegal immigration, Anor- 


I Policing the Border 

| Illegal immigrants apprehended 

• near San Diego (thousands). 

= 600 

■ 500 - • 

• 400 



300 L 


*90 ■»! 'ta '93 *04 
Souks: U.S. Border Faaoi San Diego 


• Los Angeles ^-®* 


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Mexico 


ney General Janet Reno an- 
nounced last weekend that 
fresh resources would be 
poured into the San Diego bor- 
der under a program called Op- 
eration Gatekeeper. 

Starting Oct. I. the adminis- 
tration will flood the area with 
hundreds of additional Border 
Patrol agents, a fleet of vehicles. 
Dew computer and communica- 
tions networks, a new finger- 
printing system and still more 
lights. 

All of this adds to an effort 
begun by the Border Patrol in 
1990 and significantly acceler- 
aied by the administration over 
the past year. 


The increased enforcement 

— with help from California’s 
prolonged recession, its earth- 
quakes, fires and riots, as well 
as Mexico’s improved economy 

— already appears to have re- 
duced illegal immigration here. 

Apprehensions in the San 
Diego sector are down 20 per- 
cent over the last two years. 

“This is the big one.** said 
Gus De La Vina, chief of the 
Border Patrol’s San Diego sec- 
tor. 

“We are going 3 II out to stop 
the bleeding at the busiest, most 
difficult part of the border, and 
time will tell how much we can 
accomplish." 

Given the level of anxiety 
that illegal immigration has 
aroused in California, the suc- 
cess or failure of the operation 
will likely affect President Bill 
Clinton’s political fortunes in 
the nation's most populous 
state. 

Mounting a credible border- 
enforcement program here is all 
the more difficult because ex- 
pectations have been raised by 
experiences elsewhere. 

On SepL 19, 1993. about 400 
Border Patrol agents massed on 
the levees of the Rio Grande at 
El Paso, Texas. 

In what came to be known as 
“Operation Hold the Line,” the 
agents formed a highly visible, 
unbroken, 24-hour blockade, 
and illegal traffic across the riv- 
er dropped dramatically. 

From the start, the author of 
the plan, the El Paso Border 
Patrol chief, Silvestre Reyes. 


said it was singularly suited to 
that particular location. 

There were two cities. El Paso 
and Juarez, adjacent to each 
other but separated by a clear 
physical barrier, the Rio Gran- 
de. Most of the illegal traffic 
involved “commuters” — peo- 
ple who crossed the river by day 
to shop, work, panhandle or 
commit crimes in El Paso but 
rarely penetrated more than a 
few miles into the United 
States. 

Mr. Reyes and other Border 
Patrol officials argued that the 
same strategy would not work 
in the rugged canyons and me- 
sas around San Diego, where 
most of the traffic is at night 
and involves long-distance trav- 
elers on their way 10 Los .Ange- 
les and other U.S. cities. 

Nonetheless, the ’‘deter- 
rence” strategy embodied in the 
El Paso operation soon became 
the new- gospel of border con- 
trol as politicians in Washing- 
ton and California argued for 
applying the same approach ev- 
erywhere. 

Mr. Wilson has even run 
campaign television advertise- 
ments demanding that Mr. 
Clinton do for San Diego what 
he did for El Paso. 

“I wish this was El Paso, but 
we have different problems here 
and we have been working on a 
strategy to solve them for sever- 
al years.” said Mr. De La Vina. 
“Now w'e are finally setting the 
manpower to see if it will 
work” 


APOLITICAL NOTES A 


White House Puts Brake on Staff Shuffle 

WASHINGTON — The White House on Friday an- 
nounced a long-awaited reshuffling of staff that was intended 
to help shape President Bill Clinton’s image as bold and 
decisive but has instead reinforced an impression of indeci- 
sion and last-minute invention by the president and his learn. 

What was to have been a centerpiece of the plan — the 
installation of a new day-to-day While House spokesman — 
was eliminated at the last minute Thursday night when Mr, 
Clinton rejected a proposal from his top deputy and decided 
to keep Dee Dee Myers as his press secretary for the lime 
being. 

After nearly thtee months of plotting by Leon E. Paneua. 
the White House chief of staff, M». Myers's immediate fate 
was decided only after an emotional meeting Thursday eve- 
ning in which she lold Mr. Clinton that she would resign if she 
were replaced, administration officials said Friday. 

In a While House dominated by white men. the officials 
said they believed Mr. Clinton was unwilling to accept the 
imminent departure of one of his most loyal aides and the 
White House's most risible woman. Instead, in announcing 
the staff overhaul Friday afternoon. Mr. Panetta said that Ms. 
Myers would be given the rank and access accorded previous 
White House press secretaries but which she has been denied. 

“Both the president and 1 have full confidence in her ability 
to handle that role,” Mr. Paneua said. 

But after weeks of signals that she might be replaced — in 
recent days, Mr. Panetta raised with her 'the prospect that she 
might be given a lesser job as traveling press secretary — 
administration officials said the decision to keep Ms. Myers 
on was made only after she told Mr. Paneua that she would 
leave the job by the end of the year. 

Mike McCurry, the State Department spokesman, would 
then almost certainly replace her as White House press 
secretary, ihe officials said. t\YT> 

U.S. Begins Review of Cisneros Tapes 

WASHINGTON — The Justice Department has begun an 
initial review of tape-recorded conversations between Hous- 
ing Secretary Henry G. Cisneros and his former mistress 
about thousands of dollars in payments he made to her from 
1990 to 1993. law enforcement officials said. 

The review is the earliest stage of scrutiny under the Ethics 
in Government Act of 1978, the law that provides for the 
appointments of independent prosecutors. 

At issue are 40 hours of audio tapes, recorded secretly by 
Linda Medlar, Mr. Cisneros's former girlfriend. In the taped 
discussions, the two lalked about the payments and how- Mr. 
Cisneros portrayed them to federal investigators checking his 
background when he was appointed to head the Department 
of Housing and Urban Development. 

In an interview on Thursday. Mr. Cisneros said the Justice 
Department was obliged to examine the tapes but expressed 
confidence that the review would put the matter to rest. 

Under the law. Attorney General Janet Reno has 30 days to 
complete an initial review of the matter. If she finds specific 
evidence of wrongdoing from a credible source, she must 
initiate a preliminary inquiry of up to 90 days. If she finds 
grounds for further investigation, she must ask a special panel 
of judges to name an independent prosecutor. (SYT) 

Quote/ Unquote 

Representative Mike Synar. Democrat of Oklahoma, 
whose 16-year congressional career was derailed by a little- 
known 7l-year-old retiree, who says he spent only SI 7.000 to 
win the primary election: “I suspect that if you tally up all the 
independent expenditures that poured into' the state to defeat 
me, Virgil Cooper matched me dollar for dollar.” ( II T) 


HIGHWAY: Seeking the Ramp 

Continued from Page 1 


politicians and corporate exec- 
utives describe. But few of them 
think it will materialize soon. 

“I’m an optimist, and I think 
it will be eight or nine years 
before that is widely available 
in homes,” said William H. 
Gates, chairman of the Micro- 
soft Corp. “On-line services 
and CD-ROM software will be 
the guiding light until the infor- 
mation highway is in place.” 

As a result, these two bridge 
technologies were the focus of 
discussion at a three-dav con- 
ference. Drawing perhaps the 
most attention among represen- 
tatives of the on-line services 
industry was Stephen Case, the 
president of America Online. 

Based in Vienna, Virginia, 
the company has the fastest- 
growing major on-line comput- 
er service, having attracted 
more than 1 million subscribers 
in only a few years, making it 
third in a market led by the 
older Prodigy and CompuServe. 

The upstart America Online 
is the “hot" service, offering 
slicker graphics for its chat 
lines, forums and information 
services. And it has more voung 


customers than its old-line on- 
line competitors. 

But as Mr. Case explained. ”1 
feel like an Andy Warhol char- 
acter, with my 15 minutes of 
fame. For years I came to this 
conference and nobody knew 
who l was. Now, people finally 
recognize me and America On 
line, but I’m told my company 
is in danger of extinction.” 

The threat comes from new 
tools that make it easier for in- 
dividuals to do their own trawl- 
ing through the ocean of infor- 
mation on the Internet, a global 
computer web connecting an 
estimated 20 million people 
worldwide. 

The commercial services, like 
America Online, provide only 
limited access lo the Internet, 
but have been easier to use. But 
experts now say that new 
“browsing” software, like an in- 
dustry-standard tool called Mo- 
saic, makes it easier for individ- 
uals to find their way around 
the Internet and reduces the 
need for commercial middle- 
men like America Online. 

Mr. Case disagrees and com- 
pares America Online to a retail 
store in the information age. 

Others say Internet is stul too 
difficult to use. 


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Here's How to Enter. 

A series of JAL statements will appear on a “jotting pad" 
next to the crossworld puzzle. Simply follow the crossword 
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. ^ 3. How many onward destinations in Japan and Asia 

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4} Cut-off date is postmarked no later than October 

3rd, 1994. 

5} Valid only where legal. No purchase necessary. 

6) Entries will not be accepted from staff and families 
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7) No correspondence will be entered into. Proof of 
postage will not be accepted as proof of receipt. 

81 No cash alternative to prizes. 

9) Winners will be drawn on October 12th and 
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11) The editor reserves the right in his absolute 
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circumstances outside our control arising which, in 
his opinion, make it desirable to cancel the 
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YOUR RESPONSES TO; 


Ql. From which European cities does JAL fly non- 
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Q3. How many onward destinations in Japan and 
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Page 




SATU RPAY-SUNDAY, SEPTEMBER 24-25, 1994 

OPINION 




licraltr 


INTERNATIONAL 



§iTtbutlC P° wer Diplomacy: America’s Democracy Defense 


PohibiKd With THr Nm Vni fan uil Tbr Wmhin^nn RiH 


Back to the Nuclear Talks 


' Progress in nuclear diplomacy between 
the United States and North Korea could 
accelerate now that talks are resuming, but 
not if South Korea's hard-liners get then- 
way. Their shrill opposition to accommo- 
dation could complicate Washington's ef- 
forts to make a deal with Pyongyang. It 
also could delay North-South talks. 

The hard-liners are playing on doubts 
about who is actually running North Ko- 
;ea following the death of Kim S Sung. 
They also are sowing doubts about how 
much bomb-making plutonium the 
North may have already produced. The 
best way to lay those doubts to rest is to 
keep negotiating and see whether the 
North lives up to its commitments. 

The evidence suggests that Mr. Kim’s 
son remains on the negotiating path laid 
out by his father. In talks with Washington 
last month, the North finned up its pledge 
to freeze its nuclear program by agreeing 
to seal its reprocessing facilities and halt 
construction of two new reactors — reac- 
tors that could generate far more plutoni- 
um than the one it now has. In return, the 
United States promised to help build new 


light-water reactors and to meet the 
North’s electricity needs in the meantime. 

Spent fuel rods that the North removed 
from its one working reactor also remain 
under international inspection at Yong- 
byon, preventing extraction of four or 
five bombs* worth of plutonium. Accord- 
ing to the International Atomic Energy 
Agency, the North has kept its pledge not 
to reprocess spent fueL It has also re- 
frained from refueling the reactor. So 
long as the North does not reprocess or 
refuel, its nuclear ambitions can be kept 
in check and the dialogue can continue. 

Unfortunately, stopping the North 
from b uilding bombs does not satisfy 
Seoul’s hard-liners. They want to under- 
mine North Korea's new regime. To that 
end, they never miss a chance to disparage 
the younger Kim’s legitimacy and want 
America to put off diplomatic ties. Some 
of Seoul’s top leaders seem sympathetic to 
the hard-linos’ complaints. They would be 
wiser to recognize that coming to terms 
with Pyongyang is the only way to make 
the Korean Peninsula nuclear-free. 

— THE NEW YORK TIMES. 


NATO Awaits Leadership 


NATO sometimes does important 
business in a strange way. Take the cur- 
rent deliberations on who should succeed 
Germany’s Manfred Warner, who died 
last month, as seaetaiy-geoeraL A great 
issue stands before the Atlantic Alliance: 
whether and how to expand its member- 
ship to include qualified former states of 
the defunct Soviet bloc. An outrider might 
think that a candidate’s views or leanings 
on this overarching question would figure 
in the selection process. An insider would 
know that the traditional style of intemar 
tional institutions takes into account gen- 
eral acceptability, conventional politick- 
ing and other considerations bearing 
more on consensus and control than on 
individual qualities. The partners are 
picking a hired hand, not a boss. 

The leading NATO candidate is Willy 
Qa^ the Belgian foreign minister and a 
Flemish socialist. Some proponents of a 
continuing leading Ameri can role in the 
alliance — and of an expeditious inarch 
to take in Poland, Hungary, the Czech 
Republic and Slovakia — ask quietly 
whether he is sufficiently “Atlanticist” in 
the one case and sufficiently expansion- 
minded in the other. Others pronounce 


him sound and reliable, although not 
exactly “forward-leaning," on matters of 
interest to the United States. He enjoys 
polite official American support. 

Part of the reality here is that the United 
States has not really made a commit ment 
to the transformation — not just of mem- 


some positive rhetoric from Che president 
and vice president, the gears of govern- 
ment are not grinding very fast to make it 
happen. The Partnership for Peace that the 
Clinton adminis tration ha$ offered other 
states serves as much to boy time, which 
has its uses, as to ensure expansion. The 
Pentagon and some diplomats have their 
doubts about change. At the State Depart- 
ment, a proposed interagency ’‘NATO Ex- 
pansion Group** became the noncomnrit- 


We are among those who believe NATO 
should be carefully but deliberately ex- 
panded, not as an anti-Soviet alliance but 
as a zone of stability for European and 
Atlantic democracies. The lead falls not to 
NATO’s top bureaucrat in Brussels but to 
its principal member in Washington. 

— THE WASHINGTON POST. 


Wake-Up Call lor die OA 


The CIA director, R. Janies Woolsey, 
was on the Hill this past week to answer 
questions about allegations of sex dis- 
crimination and harassment at the agen- 
cy’s Langley headquarters and at its over- 
seas stations. Like other federal agencies 
and innumerable private industries, the 
CIA has been forced to come to grips 
with the traditional practices and overt 
bias that have now become the target of 
female employees. Mr. Woolsey set the 
right tone by declaring that the CIA can- 
not “function as a fraternity, much less a 
white male one.” Three separate matters 
illustrate the scope of his problems. 

First, the complaint in a sex discrimi- 
nation lawsuit filed in July by a female 
operations officer known as Jane Doe 
Thompson was kept under wraps by the 
agency for two months. The plaintiff, a 
former station chief in Jamaica, had an 
admirable 23-year career in the CIA and 
was rewarded by positive personnel rat- 
ings, steady promotions and high posi- 
tions. She alleges that all that changed 
after she reported a male subordinate for 
wife-beating and alcoholism. He retaliat- 
ed, she says, by accusing her of excessive 
drinking and of sexually provocative be- 
havior in that she sometimes wore “brief 
shorts and thin tee shirts” in her own 
home. An inspector-general’s report de- 
scribed this behavior as causing some 
men to believe “she might make a pass.” 
Although numerous co-workers and early 


supervisors have defended the 52-year- 
old officer and praised her performance 
and personal behavior, her career has 
come to a dead end. She claims a male 
officer would never have been investigat- 
ed for charges of this kind_ 

Then, in connection with this suit, the 
plaintiff has revealed details of a previ- 
ously classified study of discrimination in 
the agency. Two years ago, the so-called 
Glass Ceding Report revealed that half 
the white female case officers in the oper- 
ations directorate reported experiencing 
harassment, as did a similar proportion 
of black respondents. An agency spokes- 
man says that the study was bang taken 
very seriously, and that action was under- 
way to remedy the situation. 

Finally, the "Thompson” case and the 
study have prompted more than 100 fe- 
male case officers to consider filing a 
class action sex discrimination suit 
against the CIA asking for retroactive 
promotions and back pay. The agency 
has agreed to explore a settlement, and 
court action has been postponed during 
negotiations, which are now in progress. 

Mr. Woolsey appears to be moving in 
the right direction, which cannot be easy 
in an agency accustomed to secrecy ana 
averse to public challenge. But employees 
subject to discrimination by even the 
most protected institutions have rights 
that must be vindicated. 

— THE WASHINGTON POST. 


Other Comment 


Haiti: A Temporary Victory 

The stand-down by the generals in Haiti 
may have saved everybody a bagful of 
trouble. For the Haitians, civilian deaths 
and posable decimation of die small army 
have been averted. For President Bill Cfin- 
lon, this deflects whai ought have been a 
blow to his political fortunes and a ruin- 
ous national debate about the use of 
excessive force on a weak nation. 

The imponderable about the Haitian 
operation has always been that removing 
one set of problems (one of electoral 
legitimacy) will spawn another, that of 
chaos and violence bring recycled be- 
cause the governing institutions and 
wretched economic conditions have not 
been stabilized. Caught in the middle will 


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■£, ]Wt. bvemaknd Hendd Tribun. ARryfasnseneJ. ISSN. 


W ASHINGTON — To many Ameri- 
cans, the Cold War divisions have 
given way to a confusing tangle of prob- 
lems that prevent the United States from 
setting clearly defined goals for its for- 
eign policy. These problems include ag- 
gression by regional bullies, transnational 
dangers like overpopulation and refugees, 
a global economic and information free- 
for-all that produces fear and uncertain- 
ty, and terrible ethnic conflicts. 

But beneath the surface is an enduring 
truth about this new world. The same idea 
attacked by fascism and communism re- 
mains under attack today. Now, as then. 
America is defending an idea that comes 
under many names — democracy, liberty, 
civility, pluralism — but has a constant 
face. It is the face of the tolerant society, in 
which leaders and governments exist not to 
use or abuse people but to provide them 
with freedom and opportunity. 

We are at the start of a new' stage in this 
old struggle. This is not a clash of civiliza- 
tions. Rather, it is a contest that pits na- 
tions and individuals guided by openness, 
responsive government and moderation 
against those animated by isolation, re- 
pression and extremism. The enemies of 
the tolerant society are not some nameless, 
faceless force. They are extreme national- 
ists and tribalists, terrorists, organized 
criminals, coup plotters, rogue states and 
all those who would return newly free 
societies to the intolerant ways of the past. 

For aO its dangers, this new world pre- 
sents immense opportunities to reshape 
and create international structures that are 
adapted to post-Cold War realities and 
designed to consolidate the victory of de- 
mocracy and open markets. 


By W. Anthony Lake 

The writer is President Bill Clinton's 
national securav adviser. 


The United Suites is not starry-eyed 
about the prospects for spreading democ- 
racy, but it knows that to do so serves its 
interests. Democracies create Free mar- 
kets that offer economic opportunity, and 
they make for reliable trading partners. 
They tend not to abuse their citizens’ 
rights or wage war on one another. 

The administration has made a good 
start at building security and economic 
institutions designed to create the condi- 
tions in which democracy can flourish. In 
Europe, it is deeply engaged in transform- 
ing NATO to fulfill President Bill Clin- 
ton's vision of an integrated continent by 
establishing Combined Joint Task Forces 
for peacekeeping and crisis management 
and the Partnership for Peace to begin 
expanding security in Europe eastward. 

The new global economy requires that 
we design structures that produce tangible 
benefits for American citizens and turn 
their fears into hope. That is why the 
president went to the mat for the North 
American Free Trade Agreement, which 
has dramatically accelerated the exchange 
of goods and ideas between the United 
States, Mexico and Canada. 

That is why he has taken the lead in 
setting a pro-trade agenda in the fast-grow- 
ing Asian-Pacific economies. And that is 
why the successful completion of the GATT 
world trade talks was so important: It 

S romises to make a real difference in real 
ves by creating jobs and raising wages. 


The challenges America faces also de- 
mand the patient application of diplomacy 
and the measured exercise of power. We 
use diplomacy to pursue peace. But peace 
is not just an end in itself. It also creates 
conditions necessary for democratic values 
to thrive. Thus, when the United States 
fosters peace in the Middle East, Nonhem 
Ireland and South Africa, it is promoting 
the tolerant society as well. 

Effective diplomacy depends not only mi 
the skill of America’s diplomats but also on 
power. Nothing better demonstrates this 
proposition than the U.S. approach to Hai- 
ti. There, the United States has relied on 
diplomacy backed by power — the threat 
of the use of force. The regime agreed to 
step down because of the credible and 
imminent prospect of a U.S.-led invasion. 
As a result, we are accomplishing a goal 
that this administration — and its prede- 
cessor — have pursued for three years: the 
restoration of democratic government 

The progress we have made in Bosnia 
came when power was tied to diplomacy. 
The Sarajevo ultimatum succeeded because 
the threat of NATO air power was judged 
reaL The ultimatum also sparked the agree- 
ment on a federation between the Croatians 
and Muslims. And it was the threat of 
further action by NATO, combined with 
our sanctions, that led Serbia to dose its 
border with the Bosnian Sabs when they 
rejected the recent peace plan. Vow, we are 
firmly committed to increasing the pressure 
on the Bosnian Serbs to accept the plan, 
partly by enforcement of the ban on heavy 
weapons around Sarajevo and Gorazde. 

It cannot and must not be the responsi- 
bility of the international community or 
the United States finally to resolve all 


deeply rooted conflicts. But "whe* practi- 
cal, we can save lives, as in Rwanda and 
Somalia, and we can offer conflicting soci- 
eties a breathing space in which to sort out 

their own affaire. Whether or not they do 
so must be their own responsibility. 

These explosions in states are also 
erbated by transnational problems— refu- 
gees; population growth; an enda ngered 
environment; a nefarious news of crime, 
terrorism and the weapons of. mass, de- 
struction — whose di m e n sions have been 
dearly ejqxwed by the end of thecoW war 
and whose challenge we most meet. - ■_ 
We must also contend with regional' 
rogue states like Iran, Iraq and Libya, 
which seek to traffic in the weap ons of 
mass destruction, support terrorism and: 
are dedicated to the destructio n ra the, 
tolerant society. For that reason, Preade*^ 
Clinton will maintain and modernize 
finest militar y is the world so that the 
United States can deter aggression — and 
counter it when the need arises. We httv® 
also developed a strategy of dual contain- 
ment of Iraqand Iran. • , 

And we noil uphold our commitment jp 
Smith Korea even as we negotiate a safe 
non to the nudear issue with the N orths 
Because we must fight on so many fronts 
at once, we will make progress only over 
time, in small victories, through persis- 
tence pragmatism. These are not evi- 
dence of indecision. They are the hall- 
marks of detaarmarioa, of a nation 
engaged in the long strug gl e for democracy 
and the freedom and utterance it brings: ; 

. — ■ - • - ;• 
This column was adapted by The Hkfew 
York Times from Mr. Lake's remarks ratite 
Council on Foreign Relations on Sepi 


if 

P 


. i '■ 


This Overly Ambitious Doctrine Can Only Exhaust the United States 


W ASHINGTON —The inter- 
vention in Haiti is most dis- 
turbing for what it says about the 
adminis tration’s post- Cold War 
strategy as defined by Anthony 
Lake, President Bill Clinton’s na- 
tional security adviser. 

To Mr. Lake, America is in- 
volved in an extension of the 
struggle for democracy and 
against authori tarianism tha t be- 
gan with World War n and con- 
tinued in the Cold War. As in 
those conflicts, the struggle is 
Manichean: the forces of evil 
(rogue states, terrorists, tribalists) 
against the forces of good (de- 
mocracies, tolerant societies). 

From this perspective. Mr. 
Lake argues that the world no 
longer appears chaotic and in- 
comprehensible — that Ameri- 
ca’s enemies are easily identifi- 
able. The threat is still 
authoritarianism; the goal is still 
promoting democracy. 

Stated this way, America’s goal 
remains the one that the Truman 
Doctrine established at the begin- 
ning of the Cold War. That doc- 
trine provided the rationale for 
interventions all over the globe in 
defense of freedom. 

Mr. Lake argues that the United 
States must be selective in its inter- 
ventions, and the president says 
America cannot be the worlds po- 
liceman. But a policy based on 
principle risks either ever-widen- 
ing commitments or double stan- 
dards and growing cynicism. 

When America’s commitments 
are challenged, the willingness to 
cany them out becomes a test of 
presidential and national credi- 
bility. Thus, Mr. Lake sees Haiti 
as a test of the U.S. commitment 
to the defense of democracy, and 
views the demonstration of U.S. 
resolve to reinstate democracy 
there as having broad interna- 
tional implications. 

Viewing the world through such 
a wide lens tends to create a sense 
that the fates of related nations are 
connected — that a country that 
“goes authoritarian” will destabi- 
lize nations that are geographically 
or politically rel ate d, and domi- 
noes wiH fall Despite constant 


By Robert H. Johnson 


fears of dominoes throughout the 
Gold War, there was never a case 
that dearly demonstrated the va- 
lidity of the domino theory. 

The fundamental problem with 
basing foreign polity on the de- 
fense of democracy through inter- 
vention is that the U.S. govern- 
ment lacks the means — and will 
lack the domestic political sup- 
port — to carry out such a policy. 
When other countries lack the po- 
litical and cultural roots of de- 
mocracy, it is impossible for out- 
siders to create them. 

Somalia provided an early 
post-Cold War lesson in the diffi- 
culties of using U.S. power to 
produce political change in a so- 
ciety that America understands 


imperfectly and can barely influ- 
ence. The goal of nation-building, 
which came to symbolize Ameri- 
can hubris in Vietnam, was unex- 
pectedly revived during the Gin- 
ton phase of U.S. involvement in 
Somalia. Fortunately, its impracti- 
cality was quickly recognized. But 
the problem of political change is 
even more daunting in Haiti. 

The lack of public support for 
intervention in Haiti and the 
strong reaction to the relatively 
limited U-S. casualties in Somalia 
suggest that Americans are now 
unlikely to pay a substantia] price 
on behalf of vague causes like 
world order or democracy. 

The incoherence of (he admin- 
istration’s foreign policy arises 


partly from its tendency to take 
broad stances based on principles, 
like the support of democracy 
against authoritarianism, that of- 
ten conflict with political reality. 

The administration has tended 
to hype threats, implying that if 
the United States does not take 
derisive action, UJS. or global se- 
curity will be at risk. But when it 
has faced the implications of its 
statements, it has pulled back. Sec- 
retary of Defense William Perry 
called the North Korean nudear 
program a threat to the “entice 
world” and Mr. Clinton implied 
the possibility of a preemptive at- 
tack. But die administration ulti- 
mately decided to negotiate. 

While the United States must 
remain active in (he world, it needs 
to undertake a much less ambi- 


tious foreign policy agenda, jf it 
seeks to lead a movement fbr a 
world order based csi democracy, 
it wiD exhaust itself in the effort. 

Its foreign policy will become 
ever more incoherent as domestic 
and international oozxstzamtslffmt 
its capacity to achieve its rhetori- 
cal goals. And its domestic priftics 
will be roiled by the clamor o|er its 
foreign policy failures, diverting its 
leaders from more essentiaFtasks 
at home and abroad. 


The writer is a fellow 
National Planning Assam 
research organization spec 
in economic and social jssp 
author of "lmprobablc t> 
U.S. Conceptions of Thred 
Cold War and After.') fie i 
uted this to The Nevi York 


For Haitians, a Chance to Bring Tyranny to an End 


N EW YORK — The lives of four men, two 
American and two Haitian, came togelh- 
. er briefly in Port-au-Prince, but long enough 
to show the world the truths about Haiti, its 
military rulers and the one special nightmare 
of those who live under tyranny. 

None of the four intended to reveal those 
truths, or even speak them. The Americans, 
former President Jimmy Carter and General 
Colin Powdl, were doing the opposite. They 
were so intent on agreement with the Haitian 
generals that they spoke a terrible falsehood. 

They called these generals men of honor. 
Those words were a slap in the face to Presi- 
dent Bill Clinton, who had called the generals 
murderers, and they mocked the goals of U.S. 
forces gathered offshore to oust them. 

But what sticks in the gullet of history is 
that the words are a blasphemous Insult to the 
thousands of Haitians shot or butchered by 
the army, the police and the killer squads that 
kept the generals in power. 

**Men of honor.” It is like saying that about 
German SS officers or the Soviet generals 
who served the KGB. The only difference is in 
the number of executions and mutilations. 
What does il tell us about Mr. Carter or 
General Powell? What is their definition of 
honor that it encompasses men who com- 
manded killers and torturers? 

Lieutenant General Raoul Cgdras took these 
compliments and the invitation to hang around 
in office for another month as the perfect 


By A. M. Rosenthal 

moment to show Haitians that he intended to 
be a power long after the month was up. And 
he did it, as usual — with police dubs. 

Then the second Haitian set up a little pile of 
coconuts for sale in the street. People of the city 
gathered, to cheer arriving American troops. 
The Cfedras police arrived, to give them the 
Cedras lesson. The only difference this time 
was that the American press was there On TV. 
you could hear the thunks on skulls. The next 
day, the coconut man was on the front pages of 
the world’s newspapers, sprawled dead in the 
gutter, kflledjust for bring there. 

Mr. Clinton has made serious mistakes 
about Haiti. He did not prepare the American 
public for the invasion by spelling out the 
reasons, early and often. At the very end, he 
turned over the crisis to a mission be could 
not controL The negotiating team permitted 
the generals to do what the Clinton adminis- 
tration had said would not happen: not only 
the extra month but the freedom to decide 
whether they will remain in Haiti or leave. 

General C6dras cleared that up fast He 
said he would remain. The purpose of his life 
will be to return to power. 

Mr. Clinton was not elected to turn over his 
negotiating power in time of crisis to men 
who not only were outside his political con- 
trol but also were so obviously contemptuous 


of him and his aims. So it is his direct respon- 
sibility to make sure that die thugs of the 
honorable generals are disarmed or kepi in 
barracks. And it is bis responsibility to force 
the generals to use thrir month's grace to 
begin getting out of office; instead of to pre- 
pare for thrir next grab at power. . 

Because of the startling giveaways of the 
negotiators, the president is getting a lot of 
criticism from Americans who supported in- 
vasion. But this cannot be taken ever from the 
president: It is only because of his decision to 
apply military power that Americans and the 
rest of the world can no longer deny knowl- 
edge of the Haitian reality. 

We know, because we have now seen our- 
selves, that Haitians could not gather together 
in the streets without facing beatings or death. 
We know that neither the presence of the U.S. 
press nor of UJS. armed forces persuaded or 
shamed die notice into sparing a single slcuIL 

Without the intervention ordered by Mr. 
Clinton, Haiti would have continued, for de- 
cades longer, a country where terror was the 
instrument of rule, where the forces of law 
existed to commit crime, where police could 
IdD a coconut man, stand over his corpse as 
long as they pleased, and then just walk away. C 

With intervention, Haitians have a chance to 
escape the particular dread that everlastingly 
grips people who have known only dictator- 
ships: how fearful is the past that awaits us. 

The New York Times. 


• ‘ is * i% 


A Confident Brazil Practices Hard for a Role on the World Stage 


be U.S. troops and paramilitary forces 
from other countries acting on UN or- 
ders. The unspoken fear is that the tri- 
umph of last Sunday, when the generals 
gave in without a shot bring fired, could 
yet rebound on Mr. Clinton. 

— The Straits Times (Singapore). 

What seems more interesting in the 
way the Clinton administration managed 
this latest dispute was its emphasis on 
“direct national UJS. interest” in over- 
throwing Haiti’s military rulers, giving up 
the principles and slogans of spreading 
democracy and human rights. The ad- 
ministration was not ready to accept any 
disturbances or uncontrolled develop- 
ments in its own backyard 

— Al Ahram (Cairo). 



B RASILIA — If Britain, ac- 
cording to Foreign Secretary 
Douglas Hurd, “punches above 
its wrigbt” in international af- 
fairs, then Brazil must be as- 
sumed to punch far below its 
weight in the world Thus the 
strong reservations of the hemi- 
sphere’s No. 2 country (by size 
of economy and population) 
about the No. J’s attempted sal- 
vation of Haiti have gone little 
noticed except perhaps by the 
many Latin countries (with the 
notable exception of Argentina) 
that share Brazfl'spublic misgiv- 
ings about the U.S. action. 

Thai Brazil is not a critical fac- 
tor even in major hemispheric 
politics may not be surprising. 
Many years of economic prob- 
lems and political mayhem, an 
apparent lick of interest in the 
outside world notably modest 
contributions to UN peacekeep- 
ing efforts, and the comfort of 
being a large country neither 
threatened nor threatening have 
been cause and demonstration of 
a singular lack of assertiveness. 

As for Haiti, Brazilian con- 
cerns about where the situation 
leads and what it means for prin- 
ciples of noninterference are tem- 
pered by a commitment to the 
primacy of democratic over mili- 
tary rule and by acceptance that 
U.S. intent is benign. Nor does 
Brazil want, at a time when eco- 
nomic reform is its main priority, 
to irritate Washington. 

Yet there are clear indications 
that Brazil is emerging from its 
shell in both the diplomatic and 
economic spheres and that by 
the lime the next Haiti-style cri- 
sis erupts in the hemisphere Bra- 
silia's views may cany vastly 


By Philip Bowring 


more punch than they do today. 

There are several reasons for 
expecting a larger Brazilian role. 
In no particular order While the 
question of enlarging the perma- 
nent membership of the UN Se- 
curity Council is not making much 
headway at present, among devel- 
oping countries Brazil has the 
strongest claim after India. If both 

Brazil's views may soon 
cany vastly more punch 
that they do today, 

Japan and Germany were to join, 
it seems likely that two non- 
OECD countries would have to 
join as well. Given current con- 
cerns with nudear proliferation, 
Brazil's rejection of the nuclear 
option ought to strengthen its case. 

The nuclear question, however, 
may be less important than the 
economic cme: As China has 
shown, economic success can 
quickly turn clown or pariah into 
political force. Brazil still has a 
way to go to get back on the path 
of respect for growth with stabil- 
ity. But the omens are better now 
than they have been in 20 years. 

Linked to the optimism is the 
remarkable progress of Mercosur, 
a common market pact among 
Brazil Argentina, Uruguay and 
Paraguay that has moved from 
idea, to free trade area, to a com- 
mon external tariff (starting Jan. I, 
1995) in just four years. The tariff 
has many imperfections and ex- 
ceptions, but the speed of its adop- 
tion without long-range planning 


or a secretariat provides an inter- 
esting contrast to the bureaucratic 
ways of Brussels and to ASEAN, 
whose rhetoric on free trade runs 
far ahead of progress. Mercosur’s 
success is reflected in a trebling of 
trade in four yeans and in the 
growing number of private invest- 
ment decisions now based on it. 

Argentina deserves at least as 
much credit as Brazil for Merco- 
sur’s success. But Brazil is the 
dominant force in the group, 
which also is providing a focus for 
its Latin neighbors. In particular, 
Chile is clearly taking note both 
of Mercosur’s progress and the 
problems that confront its moves 
toward NAFTA. Both Mercosur 
and NAFTA liberalize trade and 
are not incompatible. Indeed, 
U.S. exports are already benefit- 
ing from (he existence of Merco- 
sur as well as from the import 
liberalization being pursued by 
the four member nations. 

As for Brazil, its role in world 
trade; which until recently was 
derisory, is growing fast, it has 
almost equal dependence on the 
United States, the European 
Union and Latin America. 

Apart from fellow Latins, Bra- 
zil’s nearest neighbors are in Afri- 
ca. Rio de Jaaeuo is closer to La- 
gos than to Miami Given the state 


Letters intended for pubGca/lorr 
should be addressed "Letters to the 
Editor’' and contain the writer’s 
signature, name and full address. 
Letters should be brief and are 
subject lo editing. We cannot be 
responsible for the return of unso- 
licited manuscripts. 


of Africa, proximity may not seem 
much of a recommendation. But 
links with the new South Africa 
are growing fast, and Brazil has 
played a key role in the formation 
of the South Atlantic Peace and 
Cooperation Zone Involving Latin 
and African littoral states on is- 
sues ranging from the environ- 
ment ana fishing to the establish- 
ment of a nuclear-free zone. It is 
very modest so far but is a pointer 
to the future in tins part of the 
world where Brazil is by far the 
largest regional power. 

As yet Brazil remains a tenta- 
tive and reluctant player on the 


international stage. But in Fer- 
nando Henrique Cardoso, leader 
in the current election campaign, 
it is likely to get its fust president 
in many years who cares much 
about the outride world. A for- 
mer foreign minister and a one- 
time exile in Europe and the. 
United States from the military 
regime, Mr. Cardoso is not going, 
to force attention by beating na- 
tionalist drums. But he is sure to 
want to see Brazil play a more, 
active role, reflecting its and 
the new self-confidence and cohe- 
sion of Latin America in general. 

International Herald Tribune. 


IN OUR PAGES: 100, 75 AND 50 YEARS AGO 


1894c Parisian Garbage 

PARIS — The contents of the 
dustbins of Paris, the accumula- 
tion of which has long been a 
source of trouble to the civil au- 
thorities, are henceforth to be 
burnt as soon as collected. The 
Municipal Council is about to 
erect a great furnace in the Javcl 
quarter. The expense of dealing 
the city daily of its refuse costs 
nearly two million francs a year. 

1919: Virions of Peace 

NEW YORK — Speaking of the 
roirit of unrest and rebellion in 
Europe and Asia, President Wil- 
son declared that the world not 
only wished for peace, but was 
determined to have it. America 
had it now in her power to assure 
such a peace to the worid. Mr. 
Wilson said that certain organiza- 
tions had been created in Ameri- 
ca having for their avowed object 


“to destroy all systems of govern- 
ment.” He added: “It is of the 
utmost importance for America 
that tranquility shall be rc-estab- 
ushed and that an end shall be 
made to the spirit of revolt.” 

1944: Renault Arrested 

PARIS [From our New York 
edition:] Louis Renault, one of 
the leading automobile manufaCi . A 
turers in France, was arrested late 

TltOnf Onfl fit - Aa«.. 


Pans on c ha r ges of having aided 
the Germans during the occupa- 
turn. The Renault plant was at- 
tacked several times by British and 
Ahteiwan bombing planes, but de- 
spite the tremendous damag* done 
m those raids it is estimated that 
between June 1940 and the end 

2i<A?S2J5; enaul1 collected 

6, 1 50,000,000 francs for truths 
ana other vehicles and war mate- 
rial turned out for the Germans. 









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Christopher-Lake Struggle Heats Up 


lim BautS' R ruler. 

A Hutian hauling a cartload of charcoal being passed by a U.S. military vehicle with machine guns in Port-au-Prince. 

U.S. Ships Some Haiti Refugees Home 


Compiled by Our Staff From Dispatches 

WASHINGTON — Presi- 
dent Bill Clinton said Friday 
that the United States was 
sending some Haitian refugees 
home and increasing food aid to 
the island state as his adminis- 
tration kept presang Haiti’s 
military rulers to leave the 
country. 

U.S. officials also said De- 
fense Secretary William J. Peny 
and General John M. Shah- 
kashvfli, the chairman of the 
Joint Chiefs of Staff, would vis- 
it Haiti on Saturday to meet 
with U.S. forces there. 

Mr. Clinton continued to try 
to cast the U.S. occupation in 
the brightest possible light as a 
new poll indicated a majority of 
Americans disliked his decision 
to send troops to Haiti. 

The president told a bill-sign- 
ing ceremony at the Agriculture 
Department that Haiti had 
calmed to a degree that allowed 
the United States to return 
some refugees who fled before 
thejunta agreed last weekend to 
step down by Oct 15. 

He said the first shipload of 
Haitians, numbering 200 to 
300, would return from Guan- 
tanamo on Monday. “We ex- 
pect more will return next 
week,” Mr. Clinton said. 

“The U.S. Agency for Inter- • 
national Development is in- 
creasing the food program so 
that we will be supplying, in- 
stead of 1 million, 13 million 
meals a day ” he added. He said 
the first shipment of meals 
would start Monday. 


sail 

been 


Many of the refugees who set 
il for the United Su 


housed at 


States had 
Guantanamo 


pending transport to havens 
elsewhere. But after the junta 
agreed to step down, some refu- 
gees offered to go home. U.S. 
officials said. 

Mr. Clinton said there were 
now 14.000 U.S. troops in Hai- 
ti. He also said that some troops 
that entered Haiti in the first 
stages of the U.S. occupation 
earlier this week were returning 
home and being replaced by 
other units. 

Defense officials said Mr. 
Perry and General John M 
Shalikashvili would fly to Port- 
au-Prince early Saturday to 
meet with senior U.S. military 
officers and troops in Haiti and 
return that night. 

Secretary of State Warren M. 
Christopher, meanwhile, kept 
up the pressure on Haiti's mili- 
tary rulers to leave the country 
after they step down from of- 
fice. despite their insistence on 
staying. 

Mr. Christopher told NBC- 
TV that U.S. officials still 
hoped Lieutenant General 
Raoul Cedras and the other 
Haitian military leaders would 
want to leave the country after 
stepping down by Ocl 15. 

General Cedras has said he 
will not leave the country and 
that such a possibility was not 
discussed in negotiations with 
Mr. Carter. 

Mr. Aristide urged Senate 
leaders on Friday to keep U.S. 
troops in Haiti until stability is 
restored. But the lawmakers 
warned of an impending vote to 
limit the occupation. Legisla- 
tion setting a specific deadline 
for the pnlloul of U.S. forces 
from Haiti is to be sent to the 


BOOKS 


OPEN SECRETS 

By Alice Munro. 294 pages. $23. 
Alfred A. Knopf. 

Reviewed by 
Michiko Kakutani 

I N “A Real Life,” one of the 
strongest tales in this spar- 
kling new collection by Alice 
Munro, we are introduced to a 
woman named Dome, a wom- 
an whose life in the Ontario 
countryside seems completely 
set, frozen in ritual and routine. 

For years, Dome has led a 
frugal, marginal existence, trap- 
ping muskrats for fur, collect- 
ing walnuts to mark the change 
of seasons. This is the life she 
led with her brother, and the life 
she has led since his death. 

Then, unexpectedly, every- 
thing changes: a viator from 
Australia is charmed by Dor- 
rie's eccentricity; the two begin 
to correspond; he proposes and 
after a small crisis of confi- 
dence, she marries him and 
moves to his plantation in 
Queensland. 

Such abrupt changes prolif- 
erate freely in these stories. A 
piano tuner named Mr. Siddi- 
cup falls ill and deteriorates 
“from a decent old man into a 
morose and rather disgusting 
old urchin, in a matter of 
months” (“Open Secrets”). 

Given Munro’s consummate 
control of her craft, these often 
startling developments never 
come across as mere plot twists 
or gratuitous displays. 

Rather, they feel like wholly 
or ganic developments in her 
char acters* lives. In fact, in 
Munro's skilled hands, the 
“swift decision" and “the un- 
foreseen intervention" become 
metaphors for the unpredict- 
ability of life, the incalculable 
imagin ation of fate. 

Unlike such recent Munro 
collections as "Friend of My 
Youth” and "The Progress of 
Love," most of the stories in 
this volume are set in one place 
— * the Ontario village of Car- 
stairs — and they take place 
over a century. Although a few 
characters recur, the stories are 
not really Interlinked; they 
come together tangentially to 
rive the reader a sense of a 
world, a world of waiting, lone- 
liness and unfinished gestures. 


Because many of the tales are 
set in the distant past, because 
many of than include stories 
within stories, the volume as a 
whole feels somewhat more de- 
tached than earlier Munro col- 
lections, which tended to focus 
more insistently and more di- 
rectly on contemporary lives. 

The author’s generous gifts of 
sympathy and insight, however, 
remain un diminished, and she 
uses those gifts in these pages to 
create slim, quick-paced narra- 
tives that magi cally unfurl into 
dense, novel-like examinations 
of people’s entire lives. 

More often than not, love — 
or its relative, passion — is the 
motor, propelling the charac- 
ters into or out of relationships. 
And in charting what she once 
called "the progress of love." 
Munro repeatedly delineates 
the contradictory pulls of inde- 
pendence and domesticity. 

In “The Jack Randa Hotel," 
a woman follows her errant 
husband to Australia, dons a 
disguise and tries to manipulate 
him back into a relationship. 

And in “An Albanian Vir- 
gin,” a woman leaves both her 
husband and her lover, and tries 
to start a new, solitary life far 
from borne. 

Tins last story is framed by 
another tale (told by one of the 
story’s main characters and 
completed by its narrato^ 
about a woman kidnapped m 
the Albanian hinterlands and 
betrothed against her will. 

Munro uses this device to un- 
derscore both the subjective na- 
ture of storytelling and people’s 
compulsion to use the art of 
storytelling to make sense of 
their lives and to make narra- 
tive order out of confusion. As 
this collection demonstrates, 
it’s an art that she has mastered 
herself with virtuosic skill. 


Michiko Kakutani is on the 
staff of The New York Times. 


NEW AUTHORS 

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House of Representatives next 
week. 

A new Los Angeles Times 
poll said that a majority, or 53 
percent, of Americans’ disap- 
proved of the Clinton decision 
to send troops to the island 
while 43 percent approved it, 
with 4 percent undecided. 

In Haiti itself. U.S. troops 
beginning their first foot pa- 
trols through Haiti's second- 
largest city on Friday encoun- 
tered a band that serenaded 
them but also a few taunts and 
rocks. Marines said. 


Marines look to the streets of 
Cap-Haitien overnight, under 
new orders to fire on Haitian 
forces if need be to stop them 
from menacing civilians. 

In Port-au-Prince, a Creole- 
language newspaper announced 
it was resuming publication. 
The weekly Liberie was Haiti’s 
most influential newspaper and 
one of Lhe loudest voices of the 
nation’s poor when it shut 
down earlier this month amid 
death threats. (Reuters. AP) 


By Elaine Sciolino 

AW York Times Sen tee 

WASHINGTON — The Carter mission 
to Haiti has fueled a struggle between two 
longtime colleagues, as the national securi- 
ty adviser, W. Anthony Lake, and Secre- 
tary of State Warren M. Christopher com- 
pete for dominance over foreign policy. 

Mr. Christopher’s critics inside the 
White House say he has failed, most re- 
cently with the Haiti crisis, to project an 
image as a strong secretary of state. With 
the exception of the Middle East, they say, 
he has essentially ceded policy portfolios 
to subordinates or other government agen- 
cies. 

Mr. Christopher was at home last week 
when President BUI Clinton addressed the 
nation and decided to make unscheduled 
calls to former President Jimmy Carter, 
retired General Colin L. Powell, and Sena- 
tor Sam Nunn to discuss a possible mis- 
sion to Haiti that Mr. Christopher initially 
opposed. 

It has not helped Mr. Christopher that 
Mr. Clinton has openly criticized him in 
high-level meetings and failed to rally pub- 
lidy to his defense when he has come 
under attack, these officials add. 

Critics of Mr. Lake inside the State 
Depanmem assert that he has increasingly 
sought to elbow aside Mr. Christopher by 
doing more policy-making from the White 
House and sniping at him behind his back. 

As the president’s personal liaison with 
the rest of the government on national 
security issues, Mr. Lake has complained 
to U.S. ambassadors that Lhe State Depart- 
ment is incapable of producing good poli- 
cy papers, senior officials said. 

He has told colleagues of bureaucratic 
paralysis inside the State Department that 
has forced his operation to seize control of 
policies toward Rwanda and Northern Ire- 
land. 

In senior-level meetings. Mr. Lake has 
stunned even bureaucratically savvy col- 
leagues by interrupting Mr. Christopher 
and cutting him short. 

Aides to both men deny that there is a 
rift, saying that the two have never gotten 
along belter, a view echoed by Mr. Lake 
himself. “Chris and 1 speak a lot and we 
have never been on belter terms and we 
have been Friends for a long time,” he said. 

Mr. Christopher and his top aides have 


decided to respond to the criticism either 
with a studied silence or explanations that 
all the important polices — Russia. Eu- 
rope. NATO expansion. Bosnia and North 
Korea — are ran out of the Stale Depart- 
menL 

Officials insist that Mr. Christopher is in 
the policy loop and that any meetings he 
did not attend are ones he chose not to. 
They also say that because Mr. Christo- 
pher is so confident of his relationship with 
the president, he feels comfortable delegat- 
ing authority to trusted subordinates. ' 

Mr. Lake, officials say, has some "spe- 
cial projects” that he is interested in — like 
.Africa and Northern Ireland — and they 
praise him for taking the lead on those 
policies. 

But political analysis note (hat the dis- 
missal of Les A spin as secretary of defense 
began with on aJmost-ideniical scenario: 
the White House dropping hints that he 
was not up to the job and Mr. Aspin jnd 
his aides saying that all was well. 

While it is difficult to divine whether the 
talk by officials about their superiors is 
true or not. it is cer tain that they are indeed 
talking 

In one sense, the unseemly struggle be- 
tween the two men — or at least their 
subordinates — is surprising, since both of 
them were seared by the infighting during 
the Carter administration between their 
boss. Secretary of State Cyrus R. Vance, 
and the national security ad riser. Zbig- 
niew Bizezinski. 

Although Mr. Clinton said last May that 
he had rejected recommendations that he 
shake up his foreign policy team, the con- 
ventional wisdom in both ihe White House 
and Slate Department is that one of the 
two men will be sacrificed. 

For his part. Mr. Christopher is tired of 
the relentless questions about his political 
future. During an interview with NBC 
News earlier this month. Tim Russert 
asked him about persistent rumors th.it he 
will leave by the end of the year. 

Mr. Christopher coldly said. "You 
know. Tim, die last two times that I’ve 
been on this program with you. you’ve 
asked the same question. .And I’m still here 
and you’re still here. I appreciate your 
concern about me, but I'm not self-ab- 
sorbed with my future and 1 don't think 
you should be. either.’* 


In recent days the struggle for politic.: 
survival has burst into the open over Ha;: 
White House officials insist that V 
Christopher was strongly opposed to : \ 
Carter mission, argumg’that it would r. 
impossible to control such a high-loc 
emjssary. 

"Christopher was against it. Tony iv..* 
for it.” said one official. “It’s as simple 
that” State Department officials insist ju- 
as stronglv that Mr. Christopher supp, ; i 
ed it. 

Asked at the State Department brief;; . 
Tuesday about a news report that V.- 
Christopher had “deep reservation- 
about the decision, the department spok. - 
man. Mike McCurry. said categoric*/- 
"It is noi true." 

At a minimum, the way the mission v . 
put together illustrates the extent to wliici. 
Mr. Christopher has either delegated i'-.- 
Haiti policy to his deputy. Strobe Talb.-.- 
or was cut out by the White House. 

When Mr. Carter called Mr. Clinton Ls: 
Wednesday with the news that he be- 
spoken by phone to Lieutenant Gene:-:. 
Raoul Cedras, the head of the Haiti ■ . 
military, and offered a strategy to end tr.- 
crisi.s, Mr. Lake decided to draft a proper, 
for a peaceful solution, senior ad mini su.. 
lion officials said- 

Mr. Lake tracked down Secretary . 
Defense William J. Perry at a receplii’ ... 
He spoke with General John M. Shalika: '. 
rili. chairman of the Joint Chiefs of S:..; . 
He consulted Mr. Talbott in his kite!’.-. ■ 
He didn't call Mr. Christopher, leavj::. 
to Mr. Talbott to inform his boss. 

The next night, when Mr. Clinton Je!:-. - 
ered his Haiti speech to the nation. 
Christopher watched it on televisi.-:. a. 
home. 

So when ihe president retired w : 
small study off the Oval Office with 
President AI Gore, Mr. Lake, and hi* * i;:. • 
of staff. Leon E. Panetta. to phone M* 
Carter and the other two potential i— • 
saries with his thoughts about .i pi. •• .- 
peace mission. Mr. Christopher v... • 
there. 

George Slephanopoulos, a sensor • 
er to Mr. Clinton, played down the >. : : . 
tance of Mr. Christopher's absence. - - 
ing. "There is nothing unusual .. 
secretary of stale not being at a pre.-v'. - 
tial speech.” 


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INTERNATIONAL HERALD TRIBUNE 




i ART 

i }antrday-Sunday, 
" September 24-25 , 
^*age6 


1994 



IMWH I 




Laboratory for Artists 
At the Castle in Warsaw 


By Jane Periez 

New York Times Service 


W ARSAW — a 17th-century 
royal residence that was 
bombed in World War II, then 
demolished and crudely re* 
built by the Communists has become the 
focus of some of the most energetic con- 
temporary art in Eastern Europe. 

Known around Warsaw simply as the 



, Masatoshi Izumi with Isamu Noguchi in Takamatsu Studio in 1986. 


Jan Miki/Tta bantu No # acta Foundation 


Noguchi’s Sculptures: A Legacy Left in Limbo 


By Carol Lutfy 


M URE, Japan — Isamu Nogu- 
chi was 84 when he died unex- 
pectedly in December 1988. 
Equally unexpected was the 
will he left behind. It specified, as anticipat- 
ed, that he would like his Mure studio, 
where he had worked for the last 19 years of 
his life; to be opened as a public museum. 

But the Japanese- American artist left no 
instructions about what form the museum 
should take. And even more mysteriously, 
he left nothing to Masatoshi Izumi. his 
devoted assistant of 22 years, on whose 
■ land the studio complex was built. 

That is al the root of a six-year tug-of- 
war between Noguchi’s Japanese and 
American associates over the fate of his 
estate. As the 90th anniversary of Nogu- 
chi's birth, in November, approaches, the 
conflict represents a critical juncture in his 
legacy as one of the giants of 20th-century 
modernism. At issue is the future of about 
200 Noguchi sculptures, worth an estimat- 
‘ed $50 million, some of them, like “Energy 
Void” (1971), among the most spectacular 
that he produced. 


At least as important, however, is the 
preservation of the environment that No- 
guchi created in Mure, where from 1 969 he 
spent half of each year and where he began 
to work with stone. Mure was the final, 
and perhaps most compelling, chapter in 
Noguchi’s life. It was there that he finally 
found a viable place to work in Japan, 
reaching what many agree to be the pinna- 
cle of a prolific career. 

Set amid the beauty erf the Shikoku coun- 
tryside, Noguchi's compound comprises a 
restored 220-year-old farmhouse; nee, sake 
and grain storehouses, converted into work, 
exhibition and entertainment spaces; a 
sculpture yard enclosed by a wall of stones; 
a hilltop garden of Noguchi's design; an 
outdoor atelier, flanked by a pile of uncut 
rocks, and a vast spectrum of sculptures in 
varying stages of completion. 

Although everyone involved agrees that 
the compound should be preserved, the 
Isamu Noguchi Foundation in New York 
differs with Izumi and a small group of 
Noguchi's Japanese associates over how to 
do it 

Izumi remains caretaker and spiritual 
owner of Nciguchfs studio complex, which 
to a large but uncertain extent was built 


with his money. Noguchi and lyumi bad an 
unorthodox f inancial relationship and that 
is proving thorny for the foundation. 

N oguchi met immi, who was 
then 25, in 1964. Immi bad 
grown up among the stones of 
Mure and had a masterful 
knowledge of the nearby quarries. But he 
offered Noguchi far more than technical 
skill He provided the land on which to 
buDd his compound, workers to execute 
his ideas, and with the help of his wife and 
children, a surrogate family to support the 
aging artist. 

“Noguchi could never have done what be 
did without Izumi” said Bruce Altshuler, 
director of the Isamu Noguchi Garden Mu- 
seum in Long Island City. New York. 

Says Izumi: “Even people from Tokyo 
are surprised at bow Noguchi-san could _ 
live here without paying me any money.” 
(Izumi has received some money, but die 
foundation concedes it owes him more.) 

The foundation needs Izumi’s coopera- 
tion to open a museum, because he owns 
the land and the building on it. 

Since negotiations began six years ago. 


The IHT /JAL Competition 

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flights from London to Osaka as of September 4th, and from 
Paris to Osaka from September 7th, JAL and the International 
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tickets to Osaka. 

Here's How to Enter. 

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next to the crossworld puzzle. Simply follow the crossword 
puzzle this week to obtain the answers to the three questions 
listed below. 

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to Osaka * 

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London or Paris to Osaka, plus 5 hotel nights. . 


1 


Izumi's terms for a museum have been 
steadfast and simple: He has made no direct 
claim to money or to sculptures; what he 
wants is that the studio complex remain 
exactly as it was the day Noguchi died. 

The foundation fears that this would 
drain its vitality. “It will be turned into a 
shrine. People will make their pilgrimage 
there. But Noguchi won’t get known,” said 
Shoji Sadao, executive director of the 
Isamu Nqguchi Foundation in New York. 
“That is exactly what he didn’t Want.” 

The foundation is proposing to remove 
37 of about 200 sculptures from the 
grounds, some of which would be sold to 
bolster its modest S10 million endowment. 
Some of the work would also be made 
available to European art institutions, 
where it feds Noguchi is underrepresented. 

The next round of negotiations will take 
ilace when Izumi visits the New York 
oundation in October. 

The worst-case scenario is that Izumi 
will make a claim to some of the work, that 
the rest of the sculptures will be removed 
to New York, and that Mure, as Noguchi 
conceived it, will disappear. Given the 
mounting frustration, both sides concede 
that this could happen. 

“Isamu himself tried to orchestrate 
terms for a museum in Mure and failed," 
Altshler reflects. “He was aware that this 
wouldn't be easy. But I often wonder if he 
knew it would be so hard.” 


Carol Uufy is a Tokyo-based free-lance 
journalist who specializes in the arts. 


a place for Polish and international artists 
to experiment. 

The rough finish of the large rooms (pom 
the hasty reconstruction — exposed brick 
in some places, uneven c eilings — has 
made the center an ideal space for installa- 
tion and site-specific an. 

“This museum is like a laboratory of 
the arts, it is a space for ait in progress,” 
Krukowski said as he bobbed up and 
down at his table in the center’s vegetari- 
an restaurant, greeting artists and cura- 
tors just before the opening of the latest 
show. 

As usual for the center, the new exhibi- 
tion breaks fresh sound: nine artists liv- 
ing in Berlin (of German, American and 
Polish backgrounds) are showing their 
work, much of it installation art, for the 
first time in Poland. 

The idea is to bring some of the intensity * 
of the Berlin art world to Warsaw. Just as 
exciting for the Poles, another part of the 
agreement provides for 1 1 new Polish art- 
ists in their late 20s and early 30s to show 
their work in Berlin later in the year. 

“In Berlin. Polish art is considered for- 
malistic and elitist art,” said Piotr Ryp- 
son, the chief curator of the center. “So 
we are sending artists who work in very 
contemporary ways and have the most 
energy.” 

No painters are in the shows in either 
Warsaw or Berlin. “It will be objects, 
sculpture, installations and photo works 
that are collage with video,” Rypson said. 

The vacant castle opened in 1990 as a 
contemporary art center with Krukowski, 
a former theater director who supported 
the opposition Solidarity movement, in 
charge. 

At the start, financial support from the 
Polish government was reasonable, nnrf 
the center made its first big splash with a 
show called “Paradise Lost.” which con- 
trasted Stalinist Social Realism paintings 
with large-scale Polish installation art of 
the late 1980s. 

One of the more sensational installation 
pieces, by Gizegora Klaman, 35, consisted 
of a tunnel of old tin and a ramp of new 
wood built inside the castle and a huge tin- 
plate obelisk rising out of the lake oh the 
castle grounds. 

But since the arrival a year ago of a new 
government with roots in the Communist 
past and the appointment of a new minis- 
ter of culture, Kazimierz Dejmek, money 
for the center has been slashed. 

Dejmek, who favors traditional and folk 


art, has expressed disdain for the center, 
leaving it with virtually no money for new 
art shows. 

A team of arts management experts 
from the Walker Art Center in Minneapo- 
lis visited to help the center and said Ibfcy 
were surprised by its high level offiaMty 
despite the lack of money. ’ • % 

“The artistic situation is very exc 
said Katharine Deshaw, the (tier* 
development at the Walker. “But 
working with very limited foods, jus 
shoestring. I wonder how they do?' 

Staff at the center often went - 
paychecks and artists often dorial — j_— - 
work instead of being paid, she ssadJ^the 
eight curators ea<± receive a salary of $150 
a month. 

Another American cultural manager. 
Jane Gullong. the director of Arts Interna- 
tional in New York City, which organizes 
expertise for cultural groups in Eastern 
Europe, described the center as “unicrae in 
the region” and added. “The flow of new 
ideas is stronger and different from any 
other place.” 

B UT for all the energy at the cen- 
ter, both the artists and the man- 
agement know they can't thrive 
on enthusiasm alone. 

“Poles are expert at operating without 
money,” said Nma Wasilewska, the devel- 
opment program coordinator. “But we 
have to adjust to the changing times. We 
. can no longer just depend on hope. We 
have to be able to plan.” 

Some of the artists are leading the way 
by forming foundations. Klaman, the in- 
stallation artist, who is from the northern 
city of Gdansk, said the cutbacks in gov- 
ernment money had made relatively large 
installations like his too expensive for the 
center. 

“There was a big burst after 1989, but 
now that big fire is just smoldering ashes 
because of big cuts from the govern- 
ment,” Klaman said. “And private people 
with money are not interested in contem- 
porary art. They say they don't under- 
stand it.” 

A group of artists in Gdansk had set up 
a foundation that could accept grants from 
other foundations in Europe as a way of 
attracting new money, he said. 

The center has received its first corpo- 
rate sponsorship: a $50,000 matching 
grant from AT&T Coro, to help finance a 
retrospective of the Polish- born New York 
City artist Krzysztof Wodiczko, who has 
projected photographic images on govern- 
ment buildings, museums and monuments 
in the United States to make statements 
about public issues such as nuclear missiles 
and the homeless. 

So far, there has been no money from 
the ministry of culture for next year’s bud- 
get. Wasilewska said. “For next year we 
can’t talk to artists because there is no 
money.” 

Actually, the center has talked to poten- 
tial exhibitors. The resilient Krukowski 
says he has planned a show by the Ameri- 
can sculptor Robert Gobcr. But there's one 
small point: “It’s a matter of getting the 
funds,” he said. 


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subsidiaries. 

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AMSTERDAM 

CROSSROADS INTERNATIONAL CHUR- 
CH Intenfenom i nrtianat ft Ewngeical Sun- 
day Sendee KMX) am & 1130 am/ Kids 
Welcome. Do CuserstraN 3, S. Amsterdam 
Info. 02940-15316 or 0250341399- 

KJEV 

INTERNATIONAL C FUSTIAN ASSEMBLY 
(AOG) Evangefcd FefawNp. Sundays. Kiev 
Council Trade Union. 16 Kh resch atfc Street 
cd Pastor Brown (7044) 244-337B 

LYON 

Lyon Christian Fetowship. 1 bis tub PL. Ber- 
nal* 69100 Vfeutenne. Sundays 6JXJ pm, 
Tel: 72 36 35 52. 

MUNICH 

NTERNAT10NAL COMMIMTY CHRJRCH, 
EvsngefcatBifoBeBeving.sanifoashBigi 1 - 
sh 4:15 pm. Sundays at Enhubar Sir. 10 (p2 
Theresierwlr.) (000) 93 45 74. 

PARIS and SUBURBS 

EMMANUEL BAPTIST CHURCH. 56 Rue 
des Bons-RaisJns. RueB-Malmaison. An 
EvangeicaJ chtmfo fbrthe English speaking 
community located In the western 
subuts&S SASi WorsHfr 10:45. CWdrerfs 
Chun*! and Nursery. Youth mHsries I>. B C. 
Thomas, pastor. Cat! 47.51.29.63 or 
47.49.15J9 for H o mat i on. 

HOPE INTERNATIONAL CHURCH (Evarv 
gafical). Suv 930 am Hotel Orion. Metro 1 : 
Esplanade de La Odense. TeL 47.735354 

or 4775.1 427. 

THE SCOTS KIRK (PRESBYTERIAN) 17. 
us Bayard, 75006 Paris. Metro FD Roose- 
wt Farrify service & Sunday School al 1 030 
a.m. every Sunday. AH welcome. 
Fcr information 48 78 47 94. 

SAINT JOSEPH’S CHURCH (Roman 
Cahofid). Masses Sunday: 945 am. 11:00 
am- 12:15 pm- and 630 pm. Saturday: 
11 XX) am and 630 pm- MondayFriday: 
830 am. 50, avenue Mod*. Praia 8th. TeL 
42272&5B. Metro: Orates da GaJe - Bate. 
SALZBURG 

BEREAN BIBLE CHLWCH In Bern, “They 
searched the scriptures daly" Acts 17:11. 
Evangsfcal Engfch service at 1030 am. wtti 
Pastor David fobotsen. Fmz Josef Stiasso 

23. For Moca* 43 {0)682 455563. 

TOKYO 

ST. PAUL INTERNATIONAL LUTHERAN 
CHURCH, near fidabasti Sfo. TeL 3261- 
374Q. Wtrshfo Service: 930 am. Sundays. 
TOKYO UNION CHURCH near Omoteea* 
do subway sla. Tel. 3400-0047, Worship 
services Sunday 830 & USX) am, SS at 

945 am. 

USA 

If you would la a (nee Bite awrae by mal, 
please oonwee L'ECUSE de onsr, po. 
BcK513,Staunton,Vxlaia47881 USA 

VIENNA 

VTENNA CHRISTIAN CENTER; A CHARIS- 
MATIC FELLOWSHIP FOR VBWS IN- 
TERNATIONAL COMMUNITY, ■ English 
Language * Tranwfenomirettjnst, meets at 
Habgasse 17, 1070 Vienna. ffcOO pm. Every 
Sunday, EVERYONE IS WELCOME. For 
more Mbimeiion eat 43 . 1 - 310 - 7410 . 
ZURKH-SWTTZER1ANP 

0JGUSHSPEAKMS CATHOLIC MJS90N 
9LAnicnKrypL M r i B n« i itia S C0 63.SUKtey 
Mess 1 1 30 am. Located tea Kreusptatz. 
Tran Nq. 15 or 11. 


THE EPISCOPAL CHURCHES 
OF EUROPE (Angfcon) 


PARK and SUBURBS 

THE AMERICAN CATHEDRAL OF THE HO- 
LYTRIWTY, Sun. 9 & 11 am, 1ft 45 am 

TTrinJ^unday 5 pm ErereongZ^awnua 
George V, Paris 75006. TeL 33n 4720 17 92. 
Metro: George V or Alma Maiceau 

FLORENCE 

ST. JAMES CHURCH Sun. 9 am FBe I & 
11 am. Rite II. Via Bernardo Rucellal 9, 
50123. Horence, Baly. Tel: 3955 2944 17. 

FRANKFURT 

CHURCH OF CHRIST THE KING (EpiSCO- 
paVAngQcari) Sux Holy Oommuntan PA 11 
am. Sunday School and Nursery 1ft45 am. 
Sebasfcn Hnz SL 22, 60323 Ftaridurt, Ger- 
many. U1. 2. 3 Mtquel-Allec. Tel: 49/69 
550184. 

GENEVA 

BriMANUEL CHURCH, 1st, 3d & 5»i Sin. 
10 am Eucharist & 2nd & 4#i Sir. Morning 
Prayer. 3 rue de Monfoout 1201 Geneva, 
Swteaiand. TeL 4 1/22 733 00 70. 

MUNICH 

THE CHURCH OF THE ASCENSHDN, Sul 
1 1:45 a.m. Holy Eucharist raid Sunday 
SchooLT 
so 4. 81S45 
TeL 49696481 85. 

ROME 

ST. PAUL'S WTTHIN-THE-WALLS. Sun. 
830 am. Holy Eucharist Rk> h 1030 am 
Choral Eucharist Rte D: 1030 am Church 
School for dtidien& Nursery care provided; 1 
pm Sjxnish Eucharist- Via Nepr# 58, 00164 
Rome. TeL 396 486 3339 or 386 474 35G9. 

BRUSSELS/WATERLOO 

ALL SAINTS' CHURCH 1st Sun. 9 & IMS 
am Holy Eucharist wfo CHUrenls Chapel al 
11:15. Al other Sundays: 11:15am Hafy Eu- 
charist and Sunday School. 563 Chaiasee de 
Louvain. Ohaia Belgium. TeL 32/2 384-3556. 

WIESBADEN 

THE CHURCH OF ST. AUGUSTINE OF 
CANTERBURY, Sura. 10 am. Fam*y Eucha- 
rist. Frarir/urter Strasse 3, Wiesbaden, Ger- 
many. TeL 4961 13066.74. 


EUROPEAN 

BAPTIST CONVENTION 


BARCELONA 

FAITH FELLOWSHIP INTERNATIONAL 
meets at 930 am. Bone Nova Baptist Chur- 
ch Carcrde Itt CUN da Bateguer 40 Pastor 
Lance Baden, Rl 4395059 

BERLIN 

INTERNATIONAL BAPTIST CHURCH, 
BEfiUN. Rothsnbug Sir. 13. (SUgiz). BHe 
study 1045, worship at 1200 eaon Sunday. 
Charles A. Warlord, Pastor. TelJ 030-774- 
4870. 

BONN/KOLN 

T>£ Ifn^NATIONAL BAPTIST CHURCH 
OF BQNNfKOLN. Rheinau Strasse 9, Kflh. 
Wor ship 13Q Q pm. Calvin Hogue. Pastor. 
TeL: (02238) 47021. 

BRATISLAVA 

chaSSio 

JazepKifooKTetOI 6779 

BREMEN 

INTERNATIONAL BAPTIST C3HURCH (Err* 
- meets at 


HetmenrvCIose-ar. (around tie owner from 
the B*ntaf) anday worship 17:00 Ernest 
D-Waher.pstor.TeL 04791-12877. 


BUCHAREST 

INTERNATIONAL BAPTIST CHURCH. 
Stradal 

tor Mta Kemper, TeL312 386ft 

BUDAPEST 

HemaiionQl Beget FeBmtffo. II Bimbo a 56 
(main entrance Topofcsanyi u. 7. immefiteta^ 
behtod tart entrance). 103) Bfcte study. 6130 
pm Pastor Bob Zbhder. TeL- 11581 16. 
Reached by bus 11. 

BULGARIA 

INTERNATIONAL BAPTIST CHURCH, 
World Trade Center, 36, Dothan Tzankov 
BM. Worship 11 m James Duka, Pastor. 
TeL- 704367. 

CELLE/KANNOVER 

INTERNATIONAL BAPTIST CHURCH, 
Wrxtmien Sbsssa 45, Cafo 1300 Warship, 
1400 Bfole Study, Pastor Wen CanpbeL m! 
(05141)46416. 

DARMSTADT 

DARMSTADT/EBERSTADT BAPTIST PAS- 
SON. Bfcte study S Worship Sunday 1030 
am Staderwson De-Bxxstadt, Buescheislr. 
22, Bfcte study 930. worship 10:45. Pastor 
Jtei Webb. TeL 061556009216. 

DUS5ELDORF 

INTERNATIONAL BAPTIST CHURCH En- 
qteh. Worship and ChBdrerffe Church Sun- 
days at 1230 pm. Meeting tempoafy at fie 
Ewngefcch - FreMthfche Germfode in Ra- 
, (Katerbog ill. FriencSy 
_ . Al denomtn afi ons wefcoma For 
farther hformra b ra cal the pestec Or. WJ. De 
Lay, TeL 021 1-400 157. 

FRANKFURT 

INTERNATIONAL CHRISTIAN F FllO W- 
SHIP Brangefiseh-FreMnrfiSche Gemeinde, 

Sodeneratr. 11-18, 6380 Bad Horrfcum eh> 
nalFbac 06173-62728 serving foe Ftaradul 
and Teunus areas. Germany. Sunday wor- 
ship 0*45, misery + Smtiy-schoaf 1030, 
women's bfcte etudes. Houeegroups - Sun- 
*y + Wednesday 1930. Pastor k Levey, 
member European Baptist Oorwratlcn. ••De- 

dare He gby amongst foe nations.” 

BETHEL INTERNATIONAL BAPTIST 
CKJRCK Am Dachsbetg 92. FisriMuri aJA 
^ J ^'~r^i 1OT amartoaropm[>. 
Themes W. HR, pastor. TeL 069-549559. 

HEIDELBERG 

GRACE INTERNATIONAL BAPTIST 
CHURCH Mustria Sir 11. 6902 Sendhau- 

HOLLAND 

TRMTY BAPTIST S.S. 930, Worship 103Q. 
nursery, warm fellowship. Meats al 
Bloemcamplaan 54 in Wassonaar. 
TeL01751-7SQ24. 

MADRID 

MMNUB. BAPTIST. MADRID. HERMAN- 
□GZ DE TEJADA. 4. ENGLISH SERVICES 
11 am, 7 pmTdL: 407-4347 or 302-3017. 

MOSCOW 

NTERNATONAL BAPTIST FELLOWSHIP 
Meeting 110ft Kino Center BuUng 15 Druz- 

Drtghten»cowlt^ ULahHixg.Hai6.Mfltm 

^^^dS?^ P88to,e, » 3SlafTlfl y ph - 

(095)150 3293. 

MUNICH 

international baptist church of 

UUMCH, Hotstr. 9 English Language! Ser- 

^ g** 1 ?**? IS aft, Wo raiggavfca 
1 #30. Paatcr-a phone: 6908534. 

PRAGUE 

Mamtiwid fti^t Felowshte meets at foe 
Czech Baptist Church Wmhradslai » 68. 
Prague 3- At metro stop JHtac Podebred 
USX) Pastor. Bob Ford 

832)3110693. 

WUPPERTAL 

International Baptist Church. English, Ger- 
man. Persian, Vftnto 1030 am, Seiersir. 
21, Wuppertal - EtesrleH. Al denominations 
welcome. Hans-Dietar Fraund, pastor. 
T^L 020214698384. ^ 


ZURICH • SWITZERLAND 

INTERNATIONAL BAPTIST CHURCH ot 
wadenswi (Zurich). Worehp Services Sun- 
day mornings 11 30. TeL 1-72*2862. 


ASSOC OF WTL CHURCHES 
IN EUROPE & MIDEAST 


BERLIN 

AMERICAN CHURCH IN BERLIN, oor. oi 
Ctay Alee A Potsdamer Stc, SjS. 930 am, 
Worship 11 am TeL 03081 32021. 

BRUSSELS 

THE INTERNATIONAL PROTESTANT 
CHURCH OF BRUSSELS. Stfoday School 
930 am aid Church 10:45 am Kafenbeig, 
19 (at the int. School). Tel.: 673.05.81. 
Bus 95. Tram 94. 

COPENHAGEN 

INTERNATIONAL CHURCH of Copenha- 
gen, 27 Farvergacie. Vertov, near Rfidhus. 
Study 10:15 6 Worship T1:30. TeL: 
31824785. 

FRANKFURT 

TRNTY LUTHERAN CHURCH, Nbetagen 
Alee 54 (Across Inorn Bupsr HosptoQ, Sun- 
dey School 93ft worship 11 am TeL (069) 
5994 76 or 512552. 

GENEVA 

EV. LUTHERAN CHURCH of Geneva. 20 
n» Verdana. Sundey worship 930. in Ger- 
man 1 130 to Eni^vTeb (Q22) 31030B9. 

JERUSALEM 

Urn-^LAN CHURCH of the Redeemer, OM 
CitY, Muristan Rd. Engiteh worship Sun. 9 
am Al are wefcome. TeL (03) 281 049. 

LONDON 

AMERICAN CHURCH In London 79 Tot- 
Cl. Rd. wi. SS at 10.00 am, 
ani 30 am Goodge SL Uba. Tat 
071-6802791. 

PARIS 

AMERICAN CHURCH IN PARIS. Wraftp 
^fOam K, Ouai cfOreay, Pans 7. Bus 63 

at door, Metro Atns-Marceeu or InvaEdes. 
STOCKHOLM 

IMMANUEL CHURCH. Worship Christ to 
Swedish, Engbsh, or Korean. 1130 am 
Jart8 9- 81 Kungsien&g. 
17. 48/08 / 15 12 25 x 727 for more 
muiabon. 

T1RANE 

WTERNATICm. PROTESTANT ASSEM- 
“^ranjertominailoney & EwgeleaL Sar- 

waKSfo. 1030 am. 5-00 pm. Wed 5£0 
Pm FVu^Myslyrn Shyn. TeVFax 355-42- 
«372or23aez 

VIENNA 

CHURCH. Sunday 
,n English 1 l:3Q A.M., Sunday 
gcnooL nuraen r. totemegional al danomina- 
aoraweicwne. Dorothrasgasae 16, Wmnal. 

WARSAW 

WJ2^W|NTERNAT10NAL CHURCH. 

iWage expert***, Sm- 

ZURICH 

PROTESTANT CHURCH 
tiaviCB. sirttay 
gqwol & Nur eery, Sundays 11:30 a.m» 
”3. TeL: (£11)2623825. 






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i4r left, Mondrian’s "Mill in the Evening,” in center his “ Composition No. XV in Yellow and Gray,” and at right Kandinsky's “ Boat Trip.” 

Kandinsky and Mondrian: Parallel Paths to Abstractionism 

helpoTdie ^uS3 , ^e 

after absiracuomsm first in- wedge—Iike a wmdingnver m the middle er 1906 landscape. “The Park of Saint In Improvisation. Deluge” colored plain, fluffy masses Dll ihe skv. In “The done in blues and yellows, or 
umphed in Europe, the irre- — and for a clump of trees in the top Cloud bolds out the promise of a return to forms bump into each other, tossed about Amstek Hize” the break with figuration is and oranges, followed, 
asnble force that drnv^ nwav corner left. Similarly, brieht acid vellows Neo-Imnressionism with an intensity of co - on ab ackish-hIue<rmnnH “On ih»ThAm» 1 ...„ n.- ■ ■ r D 


JiucmationaJ Herald Tribune 

M ADRID — Nearly 100 years 
after abstractionism first tri- 
umphed in Europe, the irre- 
sistible force that drove away 
leading European artists from the figural 
has yet to be convincingly accounted for. 

“Kandinsky-Mondrian, Two Roads To- 
wards Abstractionism," on view at the 
Fundacidn “La Caixa" until Nov. 13 and 
later in Barcelona, on the foundation pre- 
mises, from Nov. 25 to Jan. 22, is the first 
attempt at considering the parallel pro- 
gression of two towering figures of 20th- 
century art The outcome was astoundine- 
ly different 

In Wassily Kandinsky’s oeuvre, struc- 
ture melted down until it was submerged 
in an upsurge of color creating a world of 
dreamlike floating forms. With the hind- 
sight of knowledge, one can detect the 


historic work, in which two opposing 
worlds are still linked. The composition 
remains classical. The two diagonals of the 
rectangle cut across each other at the focal 
point, but the balance rests on color, not 
on outline. Shorn of its upper half, with a 
house and some blurred trees, the lower 
part makes no sense. Colored bands mere- 
ly succeed each other. 

“Achtyrka-Park," done in the same 
year, is an exercise in dark and light values. 


The same shade of blackish green is used 
for the shadow in the foreground, for the 
wedge — like a windin g river in the middle 

— and for a clump of trees in the top 
comer left Similarly, bright acid yellows 
leap across the composition in long strips 
and go up in a shimmering flame, like 
movement in the leafy trees in the top 
comer right 

Yet, there is no indication that Kan- 
dinsky was intentionally moving awav 

SOUREN MEUKIAN 

from the figural at that momenL Two 
wonderful little sketches painted near Tu- 
nis in 1 905 betray a painter’s pure pleasure 
in jotting down on the spot impressions of 
color and light In “Tunis- Coastal Land- 
scape I," color is lightly organized into 
shape. A vast expanse of rising beige (the 
strand) presses against a narrow widening 
turquoise strip (the sea) in the distance. 
Above, dark blue, then lighter blue indi- 
cate low hffls and the sky. 

The masterpiece is “Tunis-Coastal 
Landscape 11" in layered bands of alter- 
nately light and dark color. The pressure of 
the brush gives a dancing rhythm to the 
gjots of color crushed into the surface. 
Except for the undulating blue hills on the 
horizon, very little is instantly identifiable 
as figural. 

- Kandinsky, however, was not ready for 
abstraction. In 1906. the artist even seemed 


to be backtracking In “Pond in the Park.” a 
firm linear structure is reintroduced. Anoth- 
er 1906 landscape. “The Park of Saint 
Cloud" bolds out the promise of a return to 
Neo-Impressionism with an intensity of col- 
or and a vigor inherited from Fauvism. 

The parting of the roads came Lhree 
years later. In 1909, Kandinsky painted 
“Group in Crinolines.” a genre scene 
whose flippancy is thinly disguised by the 
Fauve color scheme all in yellow, red, blue 
and black. But “Muraau-Landscape with 
Church I,” done wi thin months, is light- 
years away. It teeters on the verge of pure 
abstraction. Without the suggestion of a 
facade in the distance and a low construc- 
tion on the horizon, the picture would 
hardly look like a landscape. It is all about 
contrasted tonalities, intense and dramat- 
ic. The subject is immaterial. 

Figuration was ebbing away. In “Ettaler 
Mandl,” also of 1 909, it survives as it might 
in a dream. Mountains are painted in blue 
and red. The foreground is a glowing or- 
ange patch and. high up above the peaks, 
clouds look like Boating marguerites. Be- 
tween 1910 and 1912, the figural element 
lingered, taking the form of faintly remem- 
bered shapes. 

In 1913. Kandinsky hit the end of the 
road. The titles he chose for his composi- 
tions show that figuration for him had 
become irrelevant, even as a concept. “Red 
Spot” indeed shows a deeply pink shape 


A Twombly Homecoming in N. Y. 


By Alan Cowell 

New York Tima Service 


G AHTA Italy —The 
summer has been sti- 
fling, too hot, Cv 
Twombly said, for 
painting, too full of distraction 
and diversion. For this Ameri- 
can artist, long viewed as a re- 
clusive and elusive self-exile, 
has been preparing for a major 
retrospective in New York with 
what, for him, is a star buret of 
publicity. 

“You know, this really isn’t a 
thing I do,” Twombly, 66, said in 
his slow. Southern drawl, gestur- 
ing vaguely toward a reporter’s 
notebook and a photographer’s 
lights during one of a senes of 
interviews he has given recently. 
It was not a grumble or arebuke. 
Rather, it was more a shrugging 
acceptance of the way things 
seem to be done these days. 

The preparations were for 
Twombl/s largest American 
retrospective ever, which opens 
Sunday at the Museum of Mod- 
em Art. It will include 50 paint- 
ings. 37 works on paper and 10 
sculptures, embracing his enure 
career. 

Twombly’s is not a house- 
hold name in the United States, 
although he gained a certain no- 
toriety when one of his works 
was singled out by Morley Safer 
during an attack on modern art 
on “60 Minutes” last year as a 
“canvas of scrawls done with 
the wrong end of a paintbrush.” 

On the other hand, those de- 
ceptively childlike scrawls have 
earned him many devoted fol- 
lowers among artists, critics 
and collectors. 


K IRK Vamedoe, head 
of the department of 
p ainting and sculp- 
ture at the Modem 
and curator of the exhibition, 
thinks Twombly’s “purposeful 
disorder” and “juicy treatment 
of paint in relation to the body" 
will appeal to young artists un- 
familiar with his work. 

After all, says Vamedoe, “he 
is the grandfather of that ap- 
proach.” And Twombly pro- 
vides a living link with the New 
York School tradition of Pol- 
lock. de Kooning and Kline. 

like those Abstract Expres- 
sionists, who transformed 
American art after World War 
II, he deals with heroic subjects 
— mythology, history, nature; 
but he does it in graffiti-like 
lines and splotches that also 
link him to as contemporary' a 
phenomenon as the 1980s graf- 
fiti artist Jean-Michel Basquiat. 

For many years he was re- 
garded as a remote figure in Eu- 
rope, less interesting than his 
friends Robert Rauschenberg 
and Jasper Johns, who were 
thought to have embraced Pop 


Art- But this is a Cy Twombly 
moment. Europe has cook back 
into favor in American art cir- 
cles, and the admiration accord- 
ed him by painters like Anselm 
Kiefer, Francesco Clemente and 
Julian Schnabel has only en- 
hanced his reputation. 

Today, Twombly is at a time 
of his life that is in some ways 
both turning point and home- 
coming. The New York retro- 
spective will help determine 
whether he has lard the critical 
ghost of his last, poorly re- 
ceived, American retrospective, 
at the Whitney in 1979. And it 
virtually coincides with his de- 
cision, after almost 37 years in 
Italy, to take up an American 
residence again in his home- 
town, Lexington. Virginia. 

Not that things ever seem to 
be cast in such literal tight in 
conversations with a man 
whose sentences sometimes halt 
abruptly, as if an inner caution 
had warned him to go no fur- 
ther toward exposing a private 
core that like ms paintings and 
drawings, does not yield itself 
to casual scrutiny. 

One senses a person who has 
pursued and fulfilled a 

3 inscrutable and private 
l “I hope it’s not much of 
anything,” he said of the retro- 
sportive at the Modem. The 
comment might seen ingenu- 
ous if it did not also seem a 
form of protection against the 
sometimes hostile art world in 
New York. “Why would I want 
more? Why would I want an 
escalation or something? I have 
kept my own pace. I think it’s a 
pace the paintings show. I have 
my pace and way of living, and 
Tm not looking for something, 
Tm not looking for taking on 
something else.” 

Twombly was sitting in the 
sunlit courtyard of his hillside 
house in Gaeta, a coastal city 
130 kilometers (80 miles) south 
of Rome. He bought the house 
eight years ago and renovated 
and rebuilt it, but it still seems 
slightly unlived in. with dust 
covers swathing the furniture. 

Twombly’s pace is less hectic 
than it was. He worked intensely 
earlier this year, completing a 
spectacular, four-canvas series 
called “The Four Seasons” and a 
hugs 15-meter (50-foot) triptych 
initially called “The Anatomy of 
Melancholy" and now untitled. 
(The former, four large canvases 
alive with Twombl/s character- 
istic combination of scattered in- 
cidents of drawing, painting and 
writing, will be at the Modem: 
the latter will be mi view next 
month at the Gagosian Gallery 
in New York and will eventually 
go to the Cy Twombly Gallery, a 
museum that will open in Febru- 
ary in Houston.) 

"The publicity suTTOunding 
the retrospective has recalled 


some biographical detail about 
a painter who, by choosing to 
live in Italy, made himself more 
obscure in New York than his 
peers and probably slowed his 
success. (“If that’s the cost” of 
moving to Italy, he said with a 
smile, “I’m glad 1 did it.”) 

Twombly was bom in 1928 in 
Lexington. Early training as an 
artist came primarily from Piene 
Daura, a Spanish artist who 
came to Lexington when Twom- 
bly was 12 and introduced him 
to the modem European tradi- 
tion in which he eventually came 
to fed most comfortable. 


A T an schools in Bos- 
ton and New York 
and, in 1951, at Black 
Mountain College, 
the fabled avant-garde enclave 
in North Carolina where he 
studied under Ben Shahn and 
Robert Motherwell, Twombly 
absorbed expressionist influ- 
ences and developed interests in 
Dada and Surrealism. 

In the 1950s, Twombly, along 
with Johns and Rauschenberg 
— with whom he traveled to 
Italy and North Africa — came 
to epitomize what seemed at the 
time a reaction against the Ab- 
stract Expressionists, who had 
become the dominant force in 
American art. The fact that the 
other two achieved success 
more rapidly than he does not 
seem to rankle. 

“I don’t know what success 
is," he said. “I don’t know if it 
means notoriety, acceptance or 
what . .It’s something I 
don’t think about. If it happens, 
it happens, but don’t bother me 
with it. I couldn’t care less.” 


(Such semi men is are easier lo 
acquire from a perspective of 
financial independence. Al- 
though Twombly recalls the 
days in the late 1950s when his 
works sold for $ 100 or so, things 
are different now. In recent | 
years, Twombly s have brought i 
for $2 million to 55 million.) 

Twombly moved to Italy in 
1 957 at the age of 29, when the 
focus of the art world bad shift- 
ed from Europe to New York. 
Within two years he had mar- 
ried Tatiana Franchetli. a mem- 
ber of a rich, aristocratic family. 

Twombly casts his move to 
Italy in the simplest of terms: 
“Rome in the 1950s was a pret- 
ty nice place to come to.” But 
the story seems more compli- 
cated. He had visited Italy in 
1952 with Rauschenberg, but 
on this trip his association with 
the Francbetti family brought 
with it a distinctive lifestyle 
among people with a long histo- 
ry of patronage of the arts. 

Some of Twombly’s returns 
to the United States have been 
singularly unfortunate. A 1964 
showing at the Castelli Gallery 
in New York of the nine-paint- 
ing series “Discourse on Corn- 
modus” was a fiasco. Not a sin- 
gle painting sold. The Whitney 
retrospective, Twombly ac- 
knowledged, was “not what one 
would call a success.” 

Dearly, Twombly has a sense 
that this time things will be bet- 
ter. “From not caring at all 
about American painting in the 
1950s, Americans think about 
nothing but American paint- 
ings." he said “I’m the last thing 
to grab at: That’s why the) 1 are 
making something erf it." 


fiac 

8- 16 

PARIS 

ESPA« T q ° 0 U A B , VbaNUY 



mmmmm 


1 


Jbr\ 


floating against a blue backdrop. Below, 
wavy lines vaguely suggest hilly crests. 

In “Improvisation, Deluge” colored 
forms bump into each other, tossed about 
on a blackish-blue ground. “On the Theme 
of the Deluge.” equally abstract, threaten- 
ing color explodes, ‘squirts and swirls 
around. It does not depict, it conveys a 
mood. Kandinsky’s search had come to its 
logical conclusion, the rejection of all for- 
mal language, smashing up structure into 
colored shreds. 

Piet Mondrian’s itinerary was more tortu- 
ous. He came from farther afield. Hendrik 
Henkels, in the introduction, reminds us 
that the painter was trained as a drawing 
master and it shows in his early p aintin gs 
There is Mondrian, the unsuspected painter 
of naturalistic still lifes with flowers, brass 
pans and the occasional plaster bust in 
them. There is Mondrian the observer of the 
Dutch countryside and even Mondrian as a 
belated Symbolist painter, portraying blond 
little girls with sentimental porcelain-blue 
eyes, emerging from a haze and looking up 
al some awesome sight. Soon, there was also 
Mondrian the landscape painter, aware of 
the Barbizon school legacy. 

Some of his early landscapes are gems, 
rarely celebrated as such. “Ditch near 
Kalfje," believed to dale from 1901-1902. is 
bold in composition, spartan in the quasi- 
monochrome color scheme in grayish 
greens. It exudes deep, inieriorizcd Roman- 
ticism. “Clouds," done around 1900. dis- 


creetly points to an aptitude for abstract 
stylization. Trails of color sweep across the 
plain, fluffy masses Dll the sky. In ‘‘The 
Amstek Haze” the break with figuration is 
almost complete. The view, in shades of 
gray, is suggested rather than depicted. 

Yet, in 1907, like Kandinsky the year 
before, Mondrian seemed to return to figu- 
ration. “Mill in the Evening” defies classi- 
fication. A mill is seen immediately after 
sunset, with the sky still a glowing yellow 
over low hills reduced to a purplish haze. A 
river in the foreground is plunged in black- 
ish blue darkness. There is a Barbizon feel 
to the landscape with a Fauve intensity to 
its color and a very’ modern brevity about 
it all But Mondrian did not pursue that 
line. 

I N 1908, the artist had a go at Fauve- 
influenced portrait painting. Fortu- 
nately, he did not pursue this either 
— his sitters are as stiff as dummies. 
“Arum Lily" of 1909 is a pure gem in 
lavender blue and fiery orange. Barely rec- 
ognizable as a flower, ihc motif is more like 
an abstract textured tapestry. Other flow- 
ers are done with precision, such as the 
lovely “Amaryllis” in shaded red. against a 
deep-blue ground. 

Another phase simultaneously began 
with landscapes done in broadly applied 
dabs of color. The figural element is. at 
best, vaguely surmised. In “Lighthouse at 
Westkapelle,” in pale blue and pink blobs 


ART EXHIBITIONS 


and bars, it cun be recognized only with ti 
help of the title. Unreal "Dunes" broad) 
done in blues and yellows, or in muuv< 
and oranges, followed. 

Then came the shock of exposure t 
Cubism in 1910. Mondrian became a di 
ferent artist. His compositions on it 
theme of the “Eucalyptus" are linear an 
almost reduced to "black and white. I 
191 1-12, the artist briefly reverted to th 
figural even if “Still Life' With Ginger P< 
l” displays a tendency to geometrical sivl 
ration. 

But in 1913, abstract ccomctricism f 
nally got the upper hand. “Compositio 
No. XV in Yellow and Gray” resembles 
masonry pattern. 

After the end of World War I. the paitn 
er immersed himself in a search for pur 
geometry. From the early )920s until hi 
death in 1944, Mondrian kept rearrangjn 
panels of bright flat color contained b 
black bands. The doctrinaire was Iockc< 
up in the grid of his obsessions. 

Few art shows arc as compelling as thi 
exhibition, which was conceived for L 
Caixa by Thomas Messer, the retired di 
rector of the Guggenheim Museum, nov 
an adviser to Luis Monreai. the brillian 
foundation director-general of cultural af 
fairs. By slaking out the progression to 
ward abstraction through different road: 
without indulging in theorizing, it bring: 
out us inevitable nature. It is as limpid as i 
is intelligent. 


(UJL 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 24-25, 1994 


Singapore Hangs 
)utch Engineer 


By Philip Shenon 

New York Tunes Service 
SINGAPORE — A 59-year- 
I Dutch engineer was hanged 
rc Friday on narcotics 
arges, the first Westerner to 
executed under Singapore’s 
ingent drug laws. 

The Singapore authorities 
fried out the execution of the 
.gineer, Johannes van 
unme, despite appeals from 
jeen Beatrix of the N ether- 
ids and from the Dutch For- 
jn Ministry, and despite re- 
irts linking Mr. van Damme 
the Dutch national intelli- 

nce agency. 

In a statement Friday, the 
utch Foreign Ministry said 
at the government was 
/eatly disappointed and sp- 
illed to learn of the execu- 

w 

ML 

The hanging, which took 
ace at dawn at Singapore's 
hangi Prison, sent a chill 
rough this nation's large 
'estera expatriate community, 
hich was already alarmed by 
e recent caning of an Amen- 
ta teenager, the arrest last 


UN Troops 
From Japan 
Arrive at 

and a wave of anti-Western rw • fW I 

“2.* sin|apore Loire lawn 


month of an American busi- 
nessman on assault charges, 


government. 

Mr. van Damme was arrested 
at Singapore's Changi Airport 
in September 1991 after the po- 
lice found 4.3 kilograms of her- 
oin hidden in his suitcase. He 
was taken into custody shortly 
after he arrived at the airport 
from Thailand, a major trans- 
shipment point for narcotics, in 
transit to a flight to Athens. 

Mr. van Damme, a resident 
of Nigeria since 1976, had in- 
sisted that he had been set up by 
a Nigerian criminal operation 
that he had exposed to the 
Dutch intelligence agency, the 
Service for Security and Terri- 
torial Defense. 

Mr. van Damme; who was 
married to a Nigerian, insisted 
that he bad been carrying the 
bag for a Nigerian engineer, 
and that he Had not known 
what was inside. Nigerian drug 
operations are reported to con- 
trol much of the heroin traffick- 
ing in Southeast Asia. 


The Associated Press 

GOMA, Zaire — Japanese 
soldiers dressed in camouflage 
unif orms landed here Friday in 
the first international deploy- 
ment of troops under Japanese 
command since World War II. 

“It is very remarkable, amaz- 
ing and interesting,” said Colo- 
nel Makoto Nasu, of the land- 
ing at Goma’s international 
airport. 

“The time is changing,” Col- 
onel Nasu said, adding that “for 
the Japanese people it is the 
first time after world War II 
that we are outside Japan under 
our own command.” 

Japan is deploying 470 mem- 
bers of it’s Armed Self-Defense 



. -ii -X*'. 

®rv 


Cum, Ackeraan/Tfac Aooctotcd Fm 

A man carrying a just-made coffin near the Presidential Palace in Port-au-Prince as Ha itian s went about their business. 


LOBBYISTS: Will Reins Hold ? 


Condoned from Page 1 
ers and nonlawyers alike, 
h ether they are in-house or 
attracted, and whether their 
lients are for-profit or non- 
rofit, In addition, it would re- 
uire all lobbyists to be regis- 
rred. Currently, about 4,000 of 
te 13,000 paid lobbyists in 
/ashington are registered. 

It would also require than to 
isclose estimates of their fees 
nd the amounts they spend, 
hey must also disclose whom 
hey lobby, the issues on which 
hey lobby and on whose behalf 
hey are lobbying. 

Under the terms of the agree- 
ment, an office would be es tab- 
shed to adjudicate matters in- 
olving lobbyists, who are not 
abject to the rules of Congress, 
lie new office, based in the 
xeculive branch, could impose 
ines of up to 5200,000 on er- 
ant lobbyists. Members of 
Congress would be subject to 
he rules of their respective eth- 
_s committees. 

“This is a major break- 
hrough,” said Fred Werth- 
imer, president of Common 
'ause, the public-interest lob- 
»ying group. “It’s important, 
id it effectively addresses this 
ssue of lifestyles of members of 
Congress being paid for by spe- 
ial interests. 

“But," he added, “most peo- 
ple recognize that the larger is- 
ue continues to be cleaning up 
he corrupt campaign-finance 
ystem. It allows people who 


Although Japan’s military 
has dispatched peacekeeping 
troops to Cambodia and Mo- 
zambique, they were under the 
orders of UN officials. The Jap- 
anese peacekeeping mission to 
Goma was requested by the 
United Nations and will coordi- 
nate with the UN force, but it 
wfl] have its own independent 
comman d. 

Japan approved sending the 
troops after settling a dispute 
over the weapons they will carry 
and when a soldier can use fire- 
arms for self-defense. 


of military brutality in the last 
r, the incidents had been iso- 


are in the business of trying to 
influence government to give 
large sums of money to help 
elect the people they are trying 
to influence.” 

Senator Carl Levin, the 
Michigan Democrat who was 
the main force behind the lob- 
bying legislation, said as much 
on Thursday when he and Rep- 
resentative John Bryant, Demo- 
crat of Texas, announced the 
agreement. 

“This will make a major con- 
tribution to increasing public 
trust in the institution,” Mr. 

Levin said, “because what the 

public has seen and read is tf-feO 

about all at the gifts and travel I lipo nf Jl ~C 
and the golf outings and the HI • AJv 

meals from lobbyists, and all of 

this Stuff, and we’re ending it Agence France- Presse 

We’re saying, ‘No.’ ” LONDON — Lord Edward 

But, he added, “are there are Shackleton, 83. the Antarctic 
other things we need to do? You explorer, politician and indus- 
beL” Still, he said, the lobbying trialist, died Thursday in a re- 


Forces on Zaire’s frontier with 

HAITI: A Hospital Comes to Life as Troops Deliver Badly Needed Supplies 

Goma. ' „ ,. j . „ , 

know. But if the Haitian mili- 
tary surrenders the streets, this 
place will be chaos.” 

Colonel Hartley said night- 
time patrols, seen as the most 
dangerous, would begin Thurs- 
day night. Also, for the first 
time, Marine platoons began 
wallring through the neighbor- 
hoods, a move viewed more as 
an attempt to keep an eye on 
the Hai tian militar y than on the 
civilians. 

Doctors at the general hospi- 
tal said that although they bad 
occasionally treated the victims 


Continued from Page 1 
army to behave like profession- 
als.” But longtime American 
and foreign residents of Cap- 
Haltien, some of whom oppose 
both the return of the exiled 
president, the Reverend Jean- 
Bertrand Aristide, and the U.S. 
intervention, said that unless 
the Haitian military was tough, 
it would lose control of the 
streets. 

“The only thing these poaple 
understand is a good kick in the 
ass,” a French businessman 
said. “That sounds harsh. I 


Rumors spread throughout 
the city Thursday afternoon 
that the US. military planned 
to disarm the Haitian troops, 
but Marine commanders said 
the talk was unfounded. 

At the public hospital, nurses 
in pressed uniforms moved 
among the patients as doctors 
stared at the growing piles of 
supplies. The U.S. military has 
between 230 and 300 pallets of 
medical supplies, and after only 


Shackleton, 

Explorer, 


M. Renaud, Actress, Dies at 94 LENDERS: 

Arrests in Italy 


bill “will change the way we 
operate around here.” 

Trips paid for by lobbyists 
have been a thorn in the side of 
Congress, particularly when 
members appeared on televi- 
sion, playing golf and tennis at 
lobbyists’ expense. Although 
the new agreement bans paid 
travel by members and their 
staffs, as wdJ as payment or 
reimbursement for travel to 
events that are substantially 
recreational, it allows payment 
for necessary expenses for trav- 
el to a speaking engagement or 
other official event 


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tirement home in Hampshire, 
southern England, his secretary 
announced Friday. 

Lord Shackleton of Burley 
divided his career between poli- 
tics and exploration, most nota- 
bly to the two poles where along 
the way he learned the Eskimo 
language and subsequently 
wrote a celebrated book on his 
travels called “Arctic Jour- 
neys.” 

A graduate of Magdalen Col- 
lege, Oxford, Lord Shackleton 
wrote or co-wrote books on 
Borneo, terrorism and the Falk- 
land Islands. 

He joined the Royal Air 
Force at the start of World War 
II and reached the rank of lieu- 
tenant colonel, heading the mil- 
itary and naval information sec- 
tion in the Air Ministry. 

He was a Labor member of 
Parliament from 1946 to 1955, 
and he was made a life peer 
with the title of baron in 1958. 

From 1964 to 1967 he was 
Minister of Defense for the 
RAF before becoming leader of 
the House of Lords (1968-70), 
then leader of the opposition in 
the Lords (1970-1974). 


Czar’s Brother 
Is Reburied 

The Associated Press 

ST. PETERSBURG — 
A younger brother of Rus- 
sia’s last czar was reburied 
Friday near the tomb of Pe- 
ter the Great in a solemn 
preliminary to the expected 
interment of Nicholas II 
and his family in March. 

The remains of Grand 
Duke Georgi Alexandro- 
vich, whose body was ex- 
humed in July for genetic 
testing to help identify the 
bones of the royal family, 
were interred in a royal 
crypt in Peter and Paul Ca- 
thedral. Georgi died in 
1899 of tuberculosis at age 
27. 


Compiled bp Our Staff From Dispatches 

PARIS — Madeleine Ren- 
aud, 94, for six decades one of 
France’s outstanding stage and 
screen actresses, died Friday at 
the American Hospital in sub- 
urban Neuilly. 

Miss Renaud joined the Co- 
rn fedie Franqaise in 1921 and 
performed in its classical reper- 
tory for 26 years. In 1940 she 
married the actor and director 
Jean-Louis Barrault 10 years 
her junior. Together they 
founded the Renaud-Barrault 
stage company, which per- 
formed on a succession of 
stages but remained a mainstay 
of Paris theater until Mr. Bar- 
rault’s death last January. 

Their company began in 1947 
at the Theatre de" Marigny and a 
decade later moved under gov- 
ernment aegis to the Theatre de 
1'Odfeon. After being summarily 
evicted by Andr6 Malraux. then 
culture minister, because of Mr. 
Barrault’s expression of sup- 
port for the 1968 student upris- 
ing in which the Odeon was 
occupied by students, the com- 
pany weathered several moves. 
Its last home was the Theatre 
du Rond-Point, a converted 
skating rink across the Avenue 
des Cbamps- Ely sees from the 
Marigny, where they began. 

Physically slight but a vi- 
brant personality. Miss Renaud 
acted in the company’s classical 
and contemporary productions 
for more than 40 years. At the 
age of 89, she starred in a reviv- 
al of Marguerite Duras’s “Sa- 
vannah Bay.” She also was cele- 
brated for her frequently 
revived performance in Samuel 
Beckett's “Oh! les beaux jours” 
(“Happy Days”), and she 
played leading roles in a wide 
repertory 


Leonard Feather, 80, 
Leading Jazz Critic 

NEW YORK (NYT) — 
Leonard Feather, 80, the dean 
of American jazz critics and a 
composer and musician, died 
Thursday of complications due 
to pneumonia in Endno, Cali- 
fornia, according to a friend. 

Mr. Feather’s influence in 
jazz was far-reaching. As a crit- 
ic. he was an elegant, straight- 
forward stylist who from the 
1930s cm chronicled the jazz 
scene. Mr. Feather was early on 
an advocate of be-bop. 

Mr. Feather's talents were 
not restricted to criticism. He 
studied piano and the clarinet, 
and taught himself arranging. 
In England and in the United 


States, Mr. Feather became an 
important record producer and 
composer, writing pieces for 
Dinah Washington (“Evil Gal 
Blues” and “Blowtop Blues”) 
that have often been recorded. 
His biggest hit, “How Blue Can 
You Get," was recorded by 
Louis Jordan and by B.B. King. 

He was an exceptional talent 
scout, producing the first re- 
cordings of Dinah Washington 
and Sarah Vaughan. 

The Righ 1 Reverend Daniel 
N. Corrigan, 93, an Episcopal 
bishop whose career was 
marked by campaigns for peace 
and human rights, died 
Wednesday in Santa Barbara, 
California, from complications 
resulting from a fall. 


POPE: Talk of Succession Is Heard 

Continued from Page I 

meant the Pope's giving up to 
seven speeches a day, and the 
program was too intense, said 
Gianfranco Fuaeschi, the papal 
surgeon. “A young man would 
have been tired by this pro- 
gram, and you must remember 
that we are talking about a man 
of 74." 

For aB the uncertainties, the 
Pope himself has already 
shaped the broad outlines of the 
succession through the corpo- 
rate tactic of packing the board 
with like-minded people. 

Church law insists that the 
Pope be chosen by a conclave of 
up to 120 cardinals under the 
age of 80, who make their 
choice in elections that take 
place in the Sistine ChapeL Of 
the 120 positions for “cardinal 
electors,” 22 are currently va- 
cant, and the Pope is expected 
to announce appointments this 
year. But, already, he has 


KOREA: A New Demand 


Continued from Page 1 

could determine whether it has 
tried to make a nuclear bomb. 
Libya cast the only “no" vote. 

It was the second consecutive 
year that the conference has 
passed a resolution specifically 
criticizing North Korea. Past 
rebukes nave only hardened the 
North’s stance. Pyongyang 
abruptly renounced its mem- 
bership in the agency in June 
after the body's governing 


board sharply criticized the 
North and suspended all non- 
medical technical aid. 

The atomic energy agency 
has no police powers, but it has 
broad experience monitoring 
sources of nuclear materials. 

In a separate development. 
North Korea on Friday called 
joint U.S.-Japan naval exercises 
off its east coast a “war gam- 
ble" that could complicate ne- 
gotiations to end the nuclear 
standoff. (Reuters, AP, WP) 


named as cardinals a majority 
who share his doctrinal conser- 
vatism. 

One of them is Cardinal Lu- 
cas Moreira Neves of Brazil, a 
prominent conservative with 
both roots in the developing 
world and Vatican experience. 
Another is Cardinal Francis 
Arinze of Nigeria, who has 
dealt widely with the Islamic 
world on behalf of the Vatican. 

Among the current cardinal 
electors, however, the single 
biggest bloc, numbering 48, is 
composed of Europeans, in- 
cluding 19 Italians, according 
to a survey published in June in 
L’Espresso magazine. 

The leading Italian contend- 
er, many Vatican experts argue, 
is Cardinal Carlo Maria Marti- 
ni, the archbishop of Milan, al- 
though, as a Jesuit who has spo- 
ken of “healthy pluralism” 
within the church, his candida- 
cy would run into opposition 
from such conservative groups 
as the Opus Dei organization. 

Usually, when the talk turns 
to such discussions, someone 
likes to recall another papal 
apho rism: He who enters the 
Sistine Chapel as the odds-on 
favorite usually emerges, un- 
changed, as a cardinal. 


Continued from Page I 

ening of anti-usury laws. Bui 
Italians familiar with the lend- 
ing business say the real prob- 
lem lies with the banks. 

The regional secretary of the 
national small-business associ- 
ation. Antonio Carta, echoed a 
widespread conviction among 
Italians when he said that since 
Italy's banks, until this year, 
were almost entirely govern- 
ment-owned, loans were decid- 
ed on political grounds. Thus, 
the banks lack the people and 
skills to judge if a potential bor- 
rower “is a charlatan or genuine 
entrepreneur,” he said. 

He added that of 60 people 
who called an association hot 
line, “a good percentage” said 
they were referred to loan 
shades by bankers who had 
turned down their requests for 
loans. 

The director of the Associa- 
tion of Italian Banks, Giuseppe 
Zadra, disputed the assertion, 
saying the loan sharks were part 
of an outside circulatory sys- 
tem, breeding off money from 
illegal sources like drugs. 

“I insist we’re dealing with an 
external phenomenon,” he said, 
“and in some way s in competi- 
tion with the activities of our 

h anks ." 

Whatever the truth, this 
week’s news from Turin must 
have troubled the banks, after 
the police raided local offices of 
Banca Commerciale Italians, 
Italy’s fifth-laigest, and a local 
savings and loan called Ceriana 
Brothers, pursuing evidence ob- 
tained earlier this summer when 
they landed a major loan shark 
named Giuseppe Mazzone, the 
40-year-old owner of a finance 
company called Group Finan- 

Mr. Mazzone, it seezns, did a 
bfllion-dollar business borrow- 
ing heavily from friendly bank- 
ers, then relending the money at 
100 percent to 500 percent pa- 
annum to 150 or so clients. In 
return for the no-questions- 
asked policy of the bankers, Mir. 
Mazzone supplied them with 
high-priced rail girls. 


300,000 
PleeGly 
In India Hit 
By Plague 


a few dozen were delivered, the 
hospital was running out of 
storage space. The donations 
will make the general hospital 
here almost overnight the best 
equipped in the country. 

“Yon coukl see on their faces 
fear and suspicion when we first 
arrived with all our weapons,” 
said Lieutenant Miller, the 
Navy doctor. “But then when 
they saw all the supplies, every- 
thing changed.” 

“Before we could offer only 
comfort,” a nurse said. “Now 
we can get to work.” 


SURAT India— More than 

3000 W P^icken people 
S flwfSs wcsxot jndtaa 
citv where at least 100 pwp“ 
ham died from pneamomc vml 
r __— ant j many more 
fighting for their lives, official* 

^H^thSiciakm NcwDelht 
said the mass exodus i front 5U 

rat could spread 

fectious disease to other parts 

placed* on alert onFndaylo 

as a precaution,” Health Minis- 
ter Harsh Vardhan said. 

Officials planned to set im 
special offices where people 
could be tested and treated Iot 
the plague. Prime Minister P. V. 
Narasimha Rao ordered the 
Health Ministry to set up a con- 
trol center in New Delhi to 
track the disease and coordi- 
nate steps to combat it. 

Bubonic plague, a less conta- 
gious form of the disease, which 
is transmitted by fleas, struck 
up to 155 people in the western 
state of Maharashtra several 
days before the more lethal 
strain hit the neighboring state 
of Gujarat 

Pneumonic plague can de- 
stroy a victim’s lungs within 
hours of exposure. 

Officials said no one had died 
from bubonic plague, which ap- 
[ in an area that had been 
by an earthquake 
last year that killed at least 
10,000 people. They said the 
situation was under control. 

“Wherever there is such a 
major ecological change we ex- 
pect episodes of this kind,” said 
a health official, Madhusudan 
DayaL “We noticed a lot of 
rocfmts dying in the region be- 
fore the plague struck in the last 
few days.” 

“We are seriously con- 
cerned,” he added. 

The initial symptoms of 
pneumonic plague are fever and 
coughing, while victims of bu- 
boiuc plague suffer swelling of 

lymph glands. 

“We would advise people re- 
ceiving guests from Maharash- 
tra and Gujarat to be particu- 
larly alert about ; the 
symptoms,” Mr. Vardhan said. 

A rumor that the municipal 
water supply had been contami- 
nated "fueled the exodiis from - 
the city, which is 270 kilometers 
(170 miles) from Bombay. 

Vans fitted with public ad- 
dress systems drove through the 
city of more than 2 million peo- 
ple, urging residents to stay. 
The government took out large 
advertisements in local newspa- 
pers Idling people to remain at 
nome and not to panic, 

Indian officials said the 
plague had not been seen in the 
country since 1966. 

The government was advis- 
ing the entire population of Su- 
ral to take the antibiotic tetra- 
cycline to combat die airborne 
disease because they were con- 
sidered at risk, Mr. Dayal said. 

The Surat chief administra- 
tor, Pravm Trivedi, said 69 
more patients with symptoms 
of pneumonic plague had been 
hospitalized, bringing the num- 
ber of people undergoing treat- 
ment to 179. One person was 
brought to a hospital from out- 
side Surat, he said. 

Doctors said there was an 
acute shortage of drugs, espe- 
riafly tetrac^line. 

“There’s panic buying of 
drugs,” said a city official, Bal- 
want Singh. “The entire stocks 
of tetracycline have disap- 
peared from the market.” 

(Reuters, AFP) 


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IN MJEMORIAM 


rmory or 
GleiwSoaham 
Officer of the Sovereign 
Order of Malta 
Special Advisor 
President of the United States 
Private Sector Initiatives. 

Those who knew and loved 
him are asked to join his 
family in prayer and keep 
in their thoughts Glenn 
Souham, whose Masses will 
be held in Paris, Lausanne, 
New York, N.Y. 

“You can be sure that Glenn’s 
spirit of compassion, 
cooperation and commitment 
will long be remembered by 
all who knew him." 
Ronald Reagan 
President of the United States 
oF America 
The WhiLe House 
Washington D.C., 
October 8, 1986. 


AMERICAN 

TOPICS 

$100 Miffion Grant Will Replace 
Big N.Y. Schools With Small Ones 

New York City will receive 5100 million — 
half of it from the Annenbere Foundation — 
to replace some of its big, overcrowded 
schools with 50 smaller ones emphasizing 
individual attention and parental involve- 
ment. 

The new schools will serve about 50,000 of 
the city’s 12 million pupils and wfl] be mod- 
eled after 50 experimental schools that have 
opened in the last two years. The New York 
Tunes reported. 

The Anneoberg gift is the first grant to a 
public school system from the philanthropist 
waiter HL Annenberg, who has pledged $500 
million to improve public education. The 550 
milli on will be matched by other foundations 
and corporate donors. 

Short Takes 

Derrick Shaw codd serve an extra 35 to 70 
years in prison for cursing at the judge who 
sentenced him in Philadelphia. Right after 
Judge Ricardo G Jackson meted out a 7-to- 
1 5-year term for kidnapping and armed rob- 
bery, the defendant yelled curses at him and 
called the judge a “house nigger.” Both men 
are black. Judge Jackson called Mr. Shaw, 24, 
back before the bench and resentenced him to 
the maximum 42 to 85 years. He added, “If 
the matter ever comes to me for recommenda- 
tion for parole, Fm going to say ‘No.’ ” 


I n Califo rnia, paresis of children convicted 
of scrawfing graffiti will have to help clean up 
the mess. A state law enacted this week re- 

3 uires that young graffiti artists serve at least 
4 hours of community cleanup. Their par- 
ents will have to work at least half the sen- 
tence alongside their children. The law, said 
Assemblyman Tom ConnoUy, author of the 
bill, will give parents “more incentive to ask 
questions about paint on their child’s hands.” 

Ilw American Contract Bridge League is 
bidding to get schools to adopt bridge as an 
extracuxncular activity. Young people aren’t 
taking up the game the way their parents and 
grandparents did. In 1990, the average age of 
the league's 200,000 members was 58. Badge 
is offered as an extracurricular course in 
French and Chinese schools, amo ng others. 
Experts say the game is a great tool for 
studying statistics and probability. “It’s a 
mixture of poker and chess and faflina in 
love, says 22a Mahmood of Karachi, Paki- 
stan, author of “Bridge My Way.” 

Surgeons are Hkdy to do a better job at the 
operating table with a little background mu- 
sk, a study conducted by the State University 
suggests. The study, 
puhhshedin the current Journal of the Ameri- 
<an Medical Association, said surgeons had 
lower blood pressure and pulse rates and 
performed better on nonsurgical mental exer- 
cises while listening to music. Hie study test- 
ed 50 surgeons, all of whom regularly listened 
to music while operating. They were hooked 
iq> to a polygraph, which measures stress 
through factors such as pulse and blood pres- 
t0 backwaidby 
numbCT iacrcmtats fr oni a five-digit 

International Herald Tribune. 





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€ B€L 

the architects of rim 



THE TRIB INDEX 115.49^ 

oy Bloomoerg Business News. Jan 1 1^92- 100 K 

120 



The Fateful Falling Out of Disney’s Dynamic Duo 


ioo ; 


World Index 

9/23/94 close: 115.49 
Previous: 115.15 


.1; 


• J — 1 


A S 

1994 


Asia/Pacific 


Appro* we^Wmg: 32% 
Close: 129.60 Pre/r 129.45 


150 


Buraoe 


Appro* K-eigfitng 37^s» 
Oosa: 1 1535 Prev.: 114 62 


110 


90 


A S 
1994 


A S 
1994 



North fimpfiea 

V' "lit 

Approx waiting: 26% 


Oosa- WJ3 Prev.: 85.06 


150 


Lalln America 



rVt= World Index 


The index trseks U.S dollar values ot stocks Or Tokyo. New York. London, and 
Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, Denmark, Finland. 
France, Germany, Hong Kong, Rely, Mexico, Netherlands. New Zealand. Norway. 
Singapore, Spain, Sweden, Switzerland and Venezuela. For Tokyo. New York and 
London, the Index is composed ot the 20 top issues in Hums of market capitalization. 
otherwise vie ren (op stocks am tracked 


l Industrial Sec lors 






Fit Pm. x 

dear dose change 


Frt 

dost 

PlW. 

cfooe 

X 

erange 

Energy 

112.16 111.71 +0.40 

Capita) Goods 

U729 

117.08 

+0.18 

UtSbes 

131 20 130.62 +052 

Raw Materials 

134.83 

13389 

+0 70 

Finance 

115.48 115.15 +029 

Consumer Goods 

103.17 

103.04 

+013 

Services 

120.95 120.50 +0.37 

WsceBaneous 

134.18 

13396 

+0-16 

For more information aboulthe Index, a booklet is available free ol charge. 

Write to Tnb Index, 181 Avenue Charles de Gaulle, 92521 Netatiy Cede x. France 


By Bernard Weinraub 
with Geraldine Fabrikani 

■ v ew- York Times Senioe 

HOLLYWOOD — In a decade. Michael 
Eisner and Jeffrey Katzenbera transformed the 
slumbering Wall Disney Co. into an 58.? billion 
entertainment giant whose success has seemed 
magical. Investors surged to the company, and 
its stock price multiplied. Its lop executives were 
lavishly rewarded. Mr. Eisner, the chairman, 
earned more than 5203 million last year. 

This year Disney is enjoying the most profit- 
able film ever. "The Lion King." the top-raied 
television show, "Home Improvement," and ihe 
most successful musical on Broad wav. "Beauiv 
and the BeasL." 

But three weeks ago Mr. Eisner shocked ihe 


entertainment industry by denying Mr. Klatzen- 
berg s request for a promotion to the No. 2 posi- 
tion at ihe company and essentially dismissed Mr. 
Kaizen be ig, his long-time colleague and all\. 

Now Disney is suffering the consequences. 

Without Mr. Katzenberg. the studio division 
that was the most profitable in Hollywood and 
the star performer at Disney in recent years has 
been nearly paralyzed, according to Di’snev stu- 
dio executives and Hollywood producers and 
agents. The company has been embarrassed as 
Mr. Eisner and Mr. Kaizenberg have lashed out 
at each other. 

Since Mr. Katzenberg’s departure, an animat- 
ed mode in production. “The Hunchback of 
Notre Dame.” has been delayed, according to 
Disney executives. The theater division that Mr. 


Kaizenberg also ran. which is responsible for 
"Beauty and the Beast” is leaderless. 

In addition, there is uncertainty about the 
timing of the show’s openings and ihe shape of 
projects like “Alda.” with music by Elton John. 

The producers of several coming Disney films 
said the marketing side of the company seemed 

crippled. Mr. Kaizenberg was especially good ji 
using Disney characters in profitable merchan- 
dising ventures. 

Even Disney’s interest in acquiring ihe NBC 
television network from General Electric Co. — 
Mr. Eisner is in New York for lalks with network 
executives — has been shadowed bv the 

departure. 

“Losing Kaizenberg was like losing an impor- 
tant piece of manpower." said Emanuel Gerard, 
of the investment firm Gerard Klauer Maiuson. 


"If you go out and buy a network at a time 
you axe restructuring’ management, it puts 
of pressure on management." 3 

Then there was the remarkable animu 
tween two men who were once a! lies. The ar 
so intense that Nlr. Katzenbera has beet 
that he will not be welcome next month ; 
London premiere of "The Lion King.” at \ j 
Mr. John, ihe composer of the score, want | 
have a pony fur him. 

.Animators at the studio who sought to h 
farewell party for Mr. Ka teen berg were b 
from doing so by Mr. Eisner. Moreover. 
Kaizen berg has been told to leave hi< vffi 
the studio as quickly as possible. 

Perhaps most culling for Mr. Kaizenberg 
Eisner has sought to diminish the impact c 

Sec DISNEY, Page 11 


Pirelli Profit Rises 
On Reduced Debt 


O International Herald Tr 4 xme 


Bloomiierg Business Am 

MILAN — Improved pro- 
ductivity and redcued debt 
helped Pirelli SpA return to 
profit in the first half, reversing 
from a loss in the first half of 
1993. 

The tire-and-cable company 
earned 54.6 billion lire ($35 mil- 
lion) in the half, reversing from 
a 62.7 billion lira loss in the first 
six months of 1993. 

Marco Tronchetti Provera, 
the chief executive, predicted 
Pirelli would turn a full-year 
profit this year, breaking a 
string of three years of losses. 

The results’ sent Pirelli’s 
shares up to 2,640 lire Friday 
from 2.590 lire Thursday. 

First-half sales rose only 
slightly, to 4.69 trillion lire from 
4.64 trillion. But net debt as of 
June 30 fell to 1 .83 trillion lire 
from 2.1 trillion at the end of 
1993 and from 2.64 trillion at 
mid- 1993. 

Mr. Provera said the compa- 
ny put emphasis on consolidat- 
ing its core segments than on 
increasing sales. 

"We didn’t look to increase 
volumes.” he said. “Our aim was 
to get out of areas and niches 
where we didn’t have margins." 

Over the p3St few years, Pirelli 
has sold all its operations that 


ECONOMIC SCENE 


The German Market Votes 


By Brandon Mitchener 

International Herald Tribune 

F rankfurt — with elections less 

than a month away and the economy 
finally growing, the German busi- 
ness community’s official neutrality 
toward the prospect of change in government 
hasgjven way to open skepticism. 

The closer the election gets, the more finan- 
cial markets and the business community 
seem to fear that a government under the 
Social Democratic Party, led by Rudolf 
Sharping, might indeed be different and slow 
the pace of economic reform. 

Oskar Lafontaine, the Social Democrats’ 
finance minister-designate, recently accused 
the center-right government of Chancellor 
Helmut Kohl of presiding over “record defi- 
cits, record unemployment, record high taxes 
and social security fees." He went on to say 
there were “more people living off the state 
than ever before." 

But Hans Peter Stihl president of the Asso- 
ciation of German Chambers of Commerce, a 
powerful industry lobby that had previously 
been politically neutral, warned that a Social 
Democrat-led "federal government would be 
bad for the economy. 

“It’s ultimately a choice between four years 
of progressive, market-oriented government 
tha t will prepare us for the 21st century and 
interventionist, tax-and-spend government 
with a backward energy agenda that will 
jeopardize Germany’s place amid the world’s 
leading economic powers,” he said. 

Despite the fact that Mr. Kohl’s ratings are 
advancing in the polls, political uncertainty 
has weighed down stock, prices and helped 
inflate bond yields. International investors 


have been delaying decisions until the coun- 
try’s political uncertainties are resolved. 

What has happened to the Social Demo- 
crats* credibility? Erwin Grandinger. a politi- 
cal consultant, said the party has made a 
series of crucial missteps. 

In March. Mr. Sc harping, the Social Demo- 
cratic candidate for chancellor, said he would 
replace Mr. Kohl’s planned 7 J5 percent tax on 
all wage-earners with a 10 percent personal- 
in come- tax surcharge on anyone who earns 
60,000 Deutsche marks (S38.777) a year, 
which includes most of the German middle 
class. Though he meant 60,000 DM net. not 
gross, the damage was done. 

The latest slip was Mr. Scharp Log’s decision 
in Saxosy-Anbalt state to allow the formation 
of a minority government including his Social 
Democrats and the Greens that depends on 
the support of the Party of Democratic So- 
cialism. formerly the Co mmunis t party, to 
achieve a majority. 

The success of the former Communists in 
the economically depressed Eastern Germany 
has raised fears that the Social Democrats 
would enter into a s imil ar relationship in 
Bonn if it were the only way the party could 
wrest power from Mr. Kohl. 

The former Communist have made at- 
tempts to temper their rhetoric, but the offi- 
cial party program still calls for the abolition 
of private capitaL 

Analysts worry that a r uling coalition that 
would include any of country's left-leaning 
parlies would increase Germany’s deficit. 
“Any coalition which includes the SPD or the 
Greens is likely to see a softer fiscal policy, 
although ambitious spending plans would 
See VOTE, Page 11 


were noi linked to tires and ca- 
bles. It also withdrew from some 
specialized tire sectors and 
moved away from copper wires 
to optical transmission. 

Operating profit rose to 186 
billion lire" from 155 billion, 
while pretax profit was 105 bil- 
lion lire, reversing from a loss of 
83 billion lire in ihe 1993 half. 

The company’s tire opera- 
tions posted a net profit of 7 
billion lire after a loss of 49 
billion lire in the first half of 
last year. 

Mr. Provera said the Europe- 
an tire market was growing 
slowly, but that prices were 
stagnant. 

He tempered his forecast for 
full-year profit by saying the 
company still faced “tensions” 
in raw material prices and an 
ongoing battle with U.S. unions 
over proposed wage cuts. 

Analysts predicted Pirelli 
would tarn about 100 billion 
lire this year, a turnaround that 
matches other companies in the 
European auto sector. 

Fiat SpA is expected to an- 
nounce next week a smalt pre- 
tax profit Tor the first half. 

On Tuesday. Compagnie 
Generale des Etablissements 
Michelin SCA reported a first- 
half net profit of 410 million 
French francs ($77 million), 
compared with a loss of 3.2 bil- 
lion francs during the year-ear- 
lier period. 


Hong Kong 
Adds 7 New 
Listed Stocks 


Reuters 

HONG KONG — The Hong 
Kong slock market’s blue-chip 
indicator, ihe Hang Seng index, 
will add seven new stocks to 
replace the Jar dine Maiheson 
group of companies, managers 
of the index said on Friday. 

Five Jardine companies "trad- 
ed on the Hong Kong exchange 
are dropping their listings after 
a dispute with the exchange 
over listing rules. 

Beginning on Nov. 1 . Amoy 
Properties Ltd., Guangdong 
Investment Ltd.. Johnson Elec- 
tric Holdings Ltd. and Oriental 
Press Group Ltd., publisher of 
Hong KoDg’s largest-circula- 
tion Chinese newspaper, will 
join the Hang Seng index. 

They will replace Jardine 
Maiheson Holdings Ltd. and 
Jardine Strategic Holdings 
Ltd., which will drop their list- 
ings in December. 

Three more companies — the 
hotel group Shangri-La Asia 
Ltd., the property developer 
Sino Land Co. and South China 
Morning Post (Holdings) Ltd., 
publishers of Hong Kong's top- 
selling English newspaper, will 
be listed on Feb. 28. 


CURRENCY & INTEREST RATES 


Cross Ratos sept. 23 

s £ DM. F.F. Urn DJ=I S.F. SJ=. Ten Cs Peseta 

AsHtonfam 1 ZH £73 US BJU 8 H. 1 U«“ MOS* U 4 BS U 7 U* UM US>* 

SSSr JL7S SUB ma US im»-s» — 2475 us zu* xr 

Prufefwt 1547 LOO UKS 45713 * UK **S»* I 2 W USB* U 51 1 JW 

UHrfMlB) ISH Uffi um W*»i« 1 W SUMS uzn ISO* 2X0 30.71 

uub mm sun TOO U21* TMfl «w «7ii nun* sua — 

Hnan UfUB VUSS Unfltf 2 W.W "IM 47 .M 1 . 7 I 4 J 0 IJLW 1 .WJ! 0.171 

STrort (h) U 77 a \SM ssx Ufl* UJS SI* WU U 437 IM 

EbtH S 2 B 5 USB 1 * 1 K fl 4»1 * fcMfi * 11 # i*»* MW 4 . 125 * 

1307 2 . 1 TO U 0 S M 5 » MW* ft#** 0 X 151 * UMC 13 m* UW* 

IM 1922 UV 030 MO* 07*11 *J»* U»* US*I Uni** 

istt UU Mill 1 fin 1.7304 115 htHi IS>V 121*31 1*443 10715 

£40 MJ 1 » 22721 777 H 12005 2505 *17174 1 JS 77 MO. 1.7717 188*71 

OosJnas In Am ste rdam . London, New York. Toronto and ZurUn dxkm m other centers, 
r: To buy bn* Pound; b: To bu* »** OWJBr; *; Units of toil: N.Q.: not Quoted: MA: not 
available. 

Other Dollar Vafuss 

Currency Perl Currency Per 5 Currency Pert 

ORcfcarac. 23300 Mcx. peso Z 4 S S. Aft-, rend 1533 

Hone Koras 7 . 7 J* N. Zealand* 1 * 540 * S.Kor.wan 802*0 

Kona forint THUS Non*, krone 4 JS 5 Swed. krona 7 X 441 

Indian rope* 3 US PftfLpeso 25*0 TaMons 26.18 

lndo.n*ioft 2175 JW Pouraifotif »l». ThaikaM 3 *.» 

Irfati c 04431 PorteKudo UU 5 TuriUrt lire 34074 . 

israeniMk. Aun.niftfo SWUM UAEdhftam 1673 

Kuwaiti dinar 02775 Saudi rinri 325 Venn, bora, 1*200 

Malay, rira. SlraS 1 X 775 


t Deposits 

5wfei 

D-ft*ark Franc 

Sterllno 

Frtncft 

Franc 

ven 

Sept. 2 2 

ecu 

439-5 

3 & »-3 

5 S -. 

5 ‘-S 

2 -2- 


4 -VS 

3^-4', 

S '*4 '■* 



5 ■-5'. 

5M *■ 

4U.^a* 

6 \ 

S «.-5 - - 

2 -2 . 

o'-j-* 1 * 

5 ‘V5 ' ■ 

4 •’--4 ^ 

7 W 7 y 

6*U-0'-9 

2 ‘-3-. 

b - .-7 


Tokyo 

Toronto 

ZuK* 

1 ECU 
1 SDR 


C Ut Ttne r Per* 
araeat.P 7 so MW* 
AaOrnLS 1 . 35*5 
AW.KAIL hum 
Brazil retd 085 
CMMieman U23* 
Cracfl koruna 28.01 
DoBHb krone 03 X 56 
EBVpLKNMi 1382 
FM.fWrkka *.*105 


cunwer 
Canadian do Oar 


30 -any 4040 Y «Mar 
1 J **5 12*46 IJ 447 

97 J 3 07 X 9 0724 


Forward Ratos 

CorTCflCT JKJra »** Tbdai 

PM^Stnmra 1^7*3 '^3* 1J724 

SSftemrt *0*83 1-8*85 

1 W 7 7 12*71 12703 

SnurtW- INC Bank (Amstaraomt: tndosuex Bank iBros*S»; Banco Commerce Italian o 
£^'*m*cPrance Presse iPartsi: Bank of Tokyo (Tokw>; Novel Bonk of Canada 
(Toronto); IMF (SDR). Other don Pom Sourer* rmo ap. 


Dollor 

7 month 4 -v »5 1 » 

3 months $W 5 Vk 
6 months 5 ‘*-5 ^ 

I year 64fe 
Source# Reuters Uords Bonk. 

Notes cpollcable to tnrorbonk deposits ot SI million minimum tor eomvalemi. 

Key Money Rates 

United States 
Discount rati 
Prime rate 
Federal funds 
S^tMMlbCPs 
Comm, paper IN Am 
5 - month Treasury Mil 
1 -year Treasury bin 
3 -yeur Treasury note 
S-rtar Treasury note 
7 -yyor Treasury rate 
IS- rear Treasury rale 
XHrcar Treasury bond 
Merrill Lynch 39 -dciy U n t i d y wsel 4.04 
Japan 

Discount rate 
Call money 
1 -month Interbank 

3 - month Interbank 

4 - man Hi interhank 
10 -year gov k rnnwa l bond 

Ocinium 

Lombard rate 

Call menev 

1 -manm mrertjajdi 

3 -nioafft hderbaak 
tAiontn Interbank 
■irti.f BUPd 


Close 
iM 
7Vi 
A % 
4J5 
5J7 
A77 
5J6 
4X8 
7.19 
722 
7JS 
729 


Prey. 

U» 

7X. 

AS 

S37 

478 

5M 

6X4 

7.17 
720 
7 SA 
778 
*25 


Bank Mao rats 

5 *. 

9* 

Call mooer 

5.00 

**» 

l-moaTti Intemorut 

5 +* 

5 V 

3 +iMalB Interban* 

j*. 

5 ”e 

4 -noam tntaroci* 

0 *• 

6 

Ifr rear Gift 

Ml 

9.13 

Franca 

litrerventtofl rate 

5.00 

500 

Call money 

5 ’i 

5 *. 

I -awe ft) interbank 

5 '» 

5 *. 

3 -nwnth interbank 

5 *» 

507 

4 -month interbank 

5 *. 

5 *. 

16 -year DAT 

8.12 

on 


Sources: Reuters. Bloomoerp. Merrill 


1^4 

n» 

Lynch. Bank 

of Tokro- Commerzbank. 

C/sd. 


Greeatreil Montaou. Credit Ltormais 



2 -. 





— 

25 - 

Gold 




” 

I ^ 
4 i 4 


AM. 

PM. 

Cfi’ge 



Zurich 

307 JOB 

3 OS. 0 S 

+ 100 



Lon Ban 

39 t 50 

395 . 7 D 

+ 2 M 

6UQ 

& rfl 

ADO 

+S 0 

Hew York 

399 A 0 

309^0 

+ 060 

5 JJ 5 

SJJ 5 

U. 5 . Pdlors ecr ounce 

London otticiat He- 

5.10 

5.10 

logs; Zurlai ana New York ooentna and clot- 

5 J 0 

5 Z 0 

ins oners; New York Cmwv (December, i 

7 J 7 

7^8 

Source- Reuters. 




Reform of U.S. Telecom Law Dies 


By Edmund L. Andrews 

Internathuiul Herald Tribune 

WASHINGTON — A sweeping effort 
to rewrite the U.S. telecommunications 
laws to permit open competition between 
telephone and cable-television companies 
collapsed Friday in the Senate amid feud- 
ing between rival industry groups. 

The death of the bill was announced 
definitively its chief Senate sponsor. Sena- 
tor Ernest F. Hollings of South Carolina. 
Blaming opposition from the regional Bel] 
companies, Mr. Hollings said he had run 
out of time before Congress adjourns. 

The defeat came despite a broad con- 
sensus that current laws have not kept 
pace with changes in technology or the 
marketplace and despite strong bipartisan 
support for the legislation. The House had 
passed a similar bill by overwhelming 
margins in June, and President Bill Clin- 
ton strongly favored the measure. 

Had it passed, the bill would have 
overhauled the 60-year-old American 


communications laws from top to bot- 
tom. Its primary goal was to eliminate 
the regulatory barriers that divided the 
industry into separate and protected fief- 
doms for local telephone, long-distance 
and cable television service. 

The three industries have been on a 
collision course for some lime as each has 
raced toward a similar vision of building 
the so-called information superhighway 
— networks that deliver everything from 
telephone calls to television and electronic 
textbooks at the touch of a button. 

“Only one sector of the industry con- 
tinues to oppose the bill: the telephone 
companies." Mr. Hollings said. 

But others were more temperate, sav- 
ing the effort had become freighted with 
too much baggage in an attempt to pla- 
cate too many entrenched industry 
groups. The past several months have 
produced a bitter if predictable battle for 
political advantage between local tele- 


phone companies, long-distjnce earner 
and cable television operators. 

“This bill had become somewhat of ; 
Christmas tree for the benefit of voriou 
interest groups." said Lli Noam, directo 
of Columbia Universitv's Institute fo 
Tele- Information. 

The bill's defeat this year nia> wel! 
mean that it is doomed for good, given 
the extraordinary efforts b> top law mak- 
ers in both the House and the Senate to 
hammer out the necessary compromises. 

The impjet on the industry — and on 
consumers — remains unclear. Industry 
analysis say Congress and Mr. Clinton 
were essentially trying to legitimize a 
process that had been well under way 
already. Thanks to advances in digital 
technology, virtually every segment of 
the communications industry has begun 
chipping aw-av at other markets. That 
process is likely to continue, although its 
pace will inevitably be slowed l>\ the 
laws that remain on the hooks. 


Rising Commodity Prices Arouse Rate Fears 


Compiled by Our Sufl Fnert lh.rpji.-hcs 

LONDON — Key world 
commodity prices extended 
their rally of 1994 this week, led 
by gold, which broke the S400 
dollar barrier on Friday in New 
York for the first lime in more 
than a year. 

The spike in gold prices has 
added to concern that the Fed- 
eral Reserve Board will raise 
American interest rates next 
week to control inflation. 

On average, commodity 
prices are up by about 30 per- 


cent this year although few 
economists predicted a big risk 
of inflation. 

Silver, copper and zinc also 
hit highs Friday. Coffee prices 
have risen to their strongest lev- 
els since 198b. Wheat is up by a 
third since July. 

Gold Tor delivery in Decem- 
ber closed at $399.60 an ounce 
in New York, up 60 cents from 
Thursday. 

“Prices are rising from a low- 
base." said Morgan Grenfell 


Economics in its latest review of 
the outlook foi commodities. 

The boom is driven by specu- 
lative fund buying, although it 
is supported by strong demand 
as the global economy emerges 
from recession and in such 
cases as coffee and wheat — 
poor crops in some ureas. 

But crude oil prices, which 
carry the biggest inflationary 
risk are only around 5 1 b per bar- 
rel now, up from $13 in January 
bul well below $20 seen in 1993. 

Some dealers said the gold 


market attracted waves of bit 
mg by speculators and users, 
the jewelcry industry gears i 
for Christmas. 

But the rise in gold dimes on 
four days before the policy -ma 
ing arm of the Fed meets. Al. 
Greenspan, the central bank 
chairman, has said the Fc 
watches gold prices as an indie 
tor of inflationary expectation 
Investors often buy gold as 
hedge against inflation, whie 
diminishes the value of asse- 

See MARKETS, Page U 


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*® e 10 


INTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY, SEPTEMBER 24-25, 1994 


* * 


-?• IVRKET DIARY 

I hi— — 

glares Held Hostage 

\ „ ) Fears of Fed Move 

] 


Ya Auoootad Piais 


SepL 23 


The Dow 


Niiled by Our Stiff From Dispatches 

f YORK — U.S. stocks 
rc |Sr a fourth straight day on 



] T^ioliey-making committee 

med s nsxt week - 

. g inhere is a formidable wall 
i mm Orry out there," said Hugh 
V- m - son > chief investment strat- 
ids 2 * 


o 

f( m fc 


U.S. Stocks 


tl \ at First Albany Corp. 

p e ere are good reasons to be- 
5“ i the Fed will raise interest 
n % next week." 

a ““"he Dow Jones industrial av- 
h __ l .ge fell 5.38 points, to 
v ?PJ-1.75, on Friday. For the 
f „ k, the average declined 2.6 


>□. 


- xnt, or 101.6 points. 

S 1 *j%Iy 31.6 percept of invest- 
^ at advisers were bullish 
s najl lut the outlook for stocks 
C , rou week, according to a survey 
I “~140 market letter writers 
' fucb ipiled by Investors Intelli- 
^ ^ce newsletter. Meantime, 
< 111 3 percent of advisers expect- 
i ■singles would fall. 

i declining issues led advano- 

1 f i ones by 3 to 1 on the New 
i Stock Exchange, where 
ume totaled 297.58 million 
: ires, off slightly from 30187 

i ers Hion on Thursday. 

• “ et Fear of rising interest rates 
anti 
lien 


weighed on the benchmark 30- 
year Treasury bond, which fell 
4/32 point, to 96 20/32, for a 
yield of 7.79 percent, up from 
7.78 percent on Thursday. 

Concern that rising rates 
would crimp consumer borrow- 
ing helped hamme r shares of 
automakers, whose sales de- 
pend on consumer credit. Gen- 
eral Motors Corp. slipped 1 ft to 
46%, Chrysler Corp. fell 1% to 
43% and r ord Motor Co. fell ft 
to 26%. 

Digital Equipment Corp. 
skidded 2% to 25ft after an ana- 
lyst at PaineWebber lowered 
his investment opinion to "neu- 
tral" from “buy.” Intel fell 1% 
to 63% after an analyst at 
Montgomery Securities lowered 
his 1994 earnings estimates to 
$6.17 per share from $6.21 a 
share. 

Ecogen rose % to 4 5/ 16 after 
falling 1 15/16 Thursday. Eco- 
gen is one of a handful of bio- 
technology stocks that fell 
Thursday after David Blecb's 
underwriting firm suspended 
trading activities. D. Blech & 
Co. is to be acquired by Jo- 
sephthaL, Lyon & Ross Inc. 

Corporate Express shares 
rose 4% to 20% from their initial 
offering price of 16. The office 
supply retailer's IPO of 75 mil- 
lion shares began trading Fri- 
day. (Bloomberg, AP) 



Dow Jones Averages 


Open Hifln low Lost On. 

Indus 38+0.1* 3851.36 36300 I 383175 —SJS 
Titan* 11)0*8 11)239 1498 9S 1499.41 —7 13 
1/13 174.51 1 77 JO I.’*_3E 176.70 —0.07 

Comp 1 285.7 1 133783 173CJ4 1281 48 —2 97 


Standard & Poor's Indexes 



HRA low dose Ch'ee 
544.40 542J7 54282 — 119 
361-55 355.73 359.27 - 104 
15063 149.76 15031 +044 
4187 4152 4253—024 
46114 459311 459.67 - 1.60 
429.12 42SJ2 42405 -148 


NYSE Indexes 



High Low Losi am. 
JS498 2S3S3 25381 -07) 

319 lb 31749 3183)3 —IDs 
233.23 331.10 tSIJS — 104 
203.90 301.95 20152 -D-Sl 
308.12 206 77 30485 -U.ffl 


.14- A 
V,1994.; 


NASDAQ Indexes 


S^ARKETS: Dollar Meanders 


,*rec 

le Conthmed from Page 9 

^?fth a fixed-rate of return, such 
. ^jbonds. 

^Stock and bond investors 
?~ve been quick to sell on any 
, that the U.S. inflation rate 
“"^rising. The shift out of those 
P^sets has helped gold. 

“^But some bullion specialists 
ty gold might get caught in a 
icrip sprung by its own reputa- 
shtai as an inflation indicator be- 
ol v 

ubj Foreign Exchange 

Tie 

xeduse a rise in ILS. rates could 
mephon money out of gold and 
attack to bank deposits. 

3ot Inflation was running at a 2.9 
be-rcent annual rate through 
=s ugust, compared with 2.8 par- 
ent during the first eight 
hroonths of 1993 and 2.7 percent 
inor all of last year. 

Uncertaintty about U.S. in- 
■yiircst rates kept the dollar stea- 
ncya gafns i most major curren- 
cies on Friday. 

:°j The dollar ended at 97.83 
^en, down from 98.05 yen on 
liursday, but at 13488 Deut- 
,le che marks, up from 13465 
■“*)M+ at 1.2865 Swiss francs, U| 
hf rom 12845 DM, at 52293 
•y^rench francs, up from 5.2875 
— rancs. The pound closed at 

P 5770, up from $13750. 

Vith progress at the bargain- 
table, the U.S. government 
xmsidered less likely to re- 


sume calls for a strong yen, a 
tactic it pursued last year. A 
strong yen could help balance 
trade by making Japanese 
goods more expensive. 

While that would usually be 
supportive -for the dollar, trad- 
ers said the dollar was weak 
against the yen because Japa- 
nese corporations have been 
selling U.S. stocks and bonds to 
improve balance sheets before 
Sept. 30, the end of the first half 
of Japan's fiscal year. 

"Balance sheets look better 
with a lot of cash on them," said 
Carl Weinberg, chief economist 
at High Frequency Economics. 
“In Japan, cash is king at this 
time of year." 

A rate increase from the Fed 
would be of greater effect in 
helping the dollar gain against 
the Deutsche mark, making 
U.S. deposits more attractive 
relative to German ones, trad- 
ers said 

A newspaper reported on 
Friday that Fed officials said 
that strong arguments could be 
made for waiting to raise rates 
because recent data did not 
point to a need for higher rates. 

Lloyd Bentsen, secretary of 
the U.S. Treasury, said Thurs- 
day that recent increases in UJS. 
factory output and usage did 
not signal that inflation was 
about to accelerate. 

(Bloomberg, AFX, Reuters) 


IHT 

NYSE Most AcUvbs 


VuL Htah 

Low 

LOS) 

Chg. 


5*116 2714 

26ft 

26ft 

—ft 



43ft 

43ft 



1 r.i 

4* ft 

46ft 

—1ft 


4*034 &5V- 

64 




42412 40ft 

37ft 

38ft 


DtaUta 

ABarck 

41200 27ft 
36441 Z7V. 

25ft 

25ft 

76 

26 TV 

-ft 



26ft 

26ft 

-ft 








14 

14ft 




15ft 

16 


AT&T 

20886 54ft 

53ft 

54 




1903* 34 

32ft 



Ph LIMIT 

19336 58ft 

58ft 



GtabM 

17367 4Vt 

4 

4 

—ft 

NASDAQ Most Actives { 


voi. Htoh 

Law 

Lott 

Chg. 

Starbcks 

63720 24ft 

23 

23V„ 

-to,. 


51000 Jft 

3W. 

4V„ 

-ft 







49518 64ft 

63 

63ft 

—1ft 


36669 26ft 

24 ft 

26 ft 

-1ft. 



42ft 

43ft 

—ft 

MIcsBs 

30199 57ft 

56 

56 

—1 


29822 3ft 

1ft 

1>*U 



79458 30ft 

36ft 

37ft 

—1ft 


27549 14ft 

14ft 

14ft 


ButonOUi 

2*334 30ft 

27 ft 

29 Vi 


DolrTme 

22084 lVn 





27480 24ft 

24ft 


innerdyn 

20077 2 ft 

l'V* 

2V|| 

~V„ 

Acdatai 

20131 1B'« 

16ft 

16ft 


AMEX Most Actives 


VOL Hiatl 

Law 

Last 

an. 


21040 4ft 

d 

4Ww 


VldcB 

19407 36ft 

.’Kft 

36ft 

-i 


15002 13ft 

13ft 

13ft 

>ft 

Vlocrtvri 

72844 1ft 

l<Vu 

lift. 



8599 4ft, 


4ft, 

—ft 

XCL.LM 

5928 1ft 

1 

1'A, 

— 


5605 12ft 

12ft 

12ft 

—ft 

UiaCwtE 

5348 4Vt* 

4 

4ft 

-ft 

Pw34d 

4832 17ft 



_■ 

TexEiun 

4597 3ft 

2ft 

2ft 

— s 



High Low Lost 019. 

761.64 756.99 7 57 JO —lot 
769 JO 765 40 765.60 — 2J7 
777.71 774)0 771.49 —200 
931.56 925.79 *25.79 — L 
M0.84 937J) 933.33 -10* 
7)6.76 7122) 714.82 -0.07 


EUROPEAN FUTURES 


Metals 


APT 

May 

Jong 

Jvhr 


Close P rev to m 

Bid AM BiO Ask 

ALUMINUM (HWl Grad*) 

Dodo#* per metric ton 
Ssot iHuun wotjm iwum 1*02.00 

Forward 3631/30 163100 162200 161400 

COPPER CATHODES (High Grade) 

Doubts per m rtrte ion 

Soot 2555 JO 255653 25 19 JO EC0J0 

Forward 257000 257)03 253703 253SJ30 

LEAD . 

Donors per metric tad j Jan 

Scot 62QJO *2200 61000 411JJ0 

Forward 635J30 637/30 624/30 61*00 > 

NICKEL j Wa 

Dolton oer metric ton j Mer 

Swl 6445/30 6655/30 M05/30 641000 i 

Forward 6545/30 6550.00 6505/10 6510/30 J* 

TIN | AIIQ 

Datleri per metric ton 

Soot 5405/30 5415.(30 532500 533000 

Forward 548190 UWM 5400/30 5405/30 

ZINC (Special High Crude) 

Do) tars per metric tan 
Soot 1K50O KC3L50 9*9J» 100000 

Forward 1045.00 1046/10 102200 102300 


High Low Last Same ana 

159 JO 199/30 159.00 159/10 + 1J0 

157:2s 157.25 15725 157J5 + 1JD 

156/30 156.00 15600 IS6JM +135 

155.73 155/10 15525 15305 +1/30 

N.T. N.T. N.T. 157/10 + 1 JO 

Est. volume: 13461 . Open Ini. 10&S92 
BRENT CRUDE OIL (IRE) 

UJ. Belters per OaireWot* of 1006 barrels 
Oct 1670 16.40 1646 1666 +0.18 

M« 14J8 1600 16J2 1673 +0.19 

pec 168S 1*07 16/tS 1605 +0.19 

1602 1660 1676 1676 + 0.11 

1600 1609 1600 1679 +0.17 

1600 16J9 16X3 1*00 +0.16 

1676 1660 16.76 1602 +0.15 

1677 1660 1677 1606 + 0.15 

1675 1663 1675 1606 + 0.15 

1473 1665 16.73 1608 +0.15 

1633 1667 1675 16.90 +0.15 

1477 1669 1677 1607 +0.15 


Sep 


Est. volume; 33451 . Open bit. 131,173 


Stock Indexes 


Low Ch»< Change 


Financial 

Kldti Lew Close Change 
3-MONTH STERLING ILIFFE) 


S0406O - pts of IDS pet 


AMEX Stock Index 


Market Seles 


NYSE 

Amex 

Nasdaq 

tnmllUona. 


Today 
don 
297 JB 
2299 
28467 


High Low Las Ch». 
454. M 454.81 45503 -073 


Dow Jones Bond Averages 


10 Utilities 
10 industrials 


ana Orge 

9702 — 107 

9246 —022 

101.99 + 009 


NYSE Diary 


Advanced 

Declined 
Unchanged 
Told issues 
NewHiatn 
new Lows 


Ctesa Prev. 

886 1007 

1267 1155 

740 710 

2893 2872 

31 18 

149 170 


AMEX Diary 


Advanced 
Declined 
Unchanged 
Total issues 
New Highs 
New Lows 


Close Prev. 

243 284 

335 293 

256 230 

834 807 

19 12 

26 35 


NASDAQ Diary 


Advanced 
Declined 
unchanged 
Total issues 
New Highs 
New Lows 


Close Prev. 

1549 1594 

1571 1527 

1954 1 950 

5074 5071 

96 88 

71 83 


Spot Commodities 


36771 

7106 

30809 


ComtnodHy 
Aluminum, lb 
Casper eiectrolrlle, lb 
Iron FOB. Ion 

Load, lb 
Sliver, trov az 
Steel (scrap), ten 
Tlr»,[b 
Zinc, lb 


Today 

073 

126 

21300 

QM 

568 

110.17 

ILO. 

0.4968 


Prev. 

0.727 

126 

21300 


Dec 

MOT 

Jga 

te> 

Dec 

Mar 

Jin 

Sep 

Dec 

Mar 

Jun 

s«p 


9326 

9224 

9167 

9123 

90.92 

9070 

9007 

9049 

9029 

9002 

9024 

9023 


9118 
912# 
9160 
9L14 
7005 
9063 
90.49 
90 41 
9033 
9025 
9020 
90.14 


9119 

9129 

9161 

91.17 

9O0S 

9QA3 

9051 

9042 

9Q34 

9027 

9020 

9020 


fftgg. 

FTSE 180 (LlFPei 

*25 Par lades petal 

Dec 3057.0 30080 30410 + 120 

Mm- N.T. N.T. 30680 +115 

Ext. be lurtie: 11250 Open Int.: 52.931. 
CACM CMATIF) 

FF2M per tadax petal 

4. nm I *S! 1*4100 1VO90O 193800 +2700 

IKJ F 194800 191900 1*4700 +Z70O 

tSS N - T - N.T. 195500 +2700 

+ DCC lM?a 1941J0 19*500 +2700 

I Hi MW 197600 199150 199300 +2700 

Id'S j “ n - t - N.T. 19*400 +2700 

+ 003 ; Est. volume: 43/175. Open Int.: 64.941 

Source i: Motif, Associated Press. 
London inn Financial Futures Excftonp*. 
inn Petroleum Esatenae. 


+ 003 
+ 003 
+ OJM 

+ 005 
+ 006 


Dec 

91.14 

94.12 

Mar 

N.T. 

N.T. 

Jun 

N.T. 

N.T. 

se* 

N.T. 

N.T. 


+ 003 
+ 003 

+ 004 
+ 004 


+ 003 
+ 004 
+ 009 
+ 009 
+ 007 
+ 006 
+ 007 
+ 007 
+ 007 
+ 006 
+ 006 
+ 006 


Est. volume; 694)51 Open int.: 4*107*. 
3-MONTH EURODOLLARS (LJFFEJ 
Si mllllen- pts ot 100 pet 

94.10 
9173 

*137 

9308 

Est. volume: 111. Open int.: 1781 
3-MONTH EUROMARKS (UFFE1 
DM1 mniien . pis at M0 pci 
pec 9425 9420 9423 

MW 9436 9429 9432 

JU 91*6 9187 9194 

Sep 9162 9152 9159 

Dec 9222 9122 9128 

Mar 9110 9103 9305 

Jun 9187 922? 9284 

Sep 9268 9243 9267 

pec 9253 9148 9252 

Mor 92« 9215 92JB 

Jm 9122 9222 9224 

Sep 9206 9206 9208 

Est. volume: 101038. Open bit.: 699,936. 

3-MONTH PIOOR (MAT IF) 

FFS million - pts of 100 pet 
Dec 9408 9402 *406 +006 

MOT 9358 *352 9156 + 007 j 

Jun 9119 9111 9116 +008 

StP 9204 9228 9184 +OW 

P»C 9259 9253 9256 +OS8 

M« 9136 9130 9134 +007 

Jon 9117 9107 9113 +IL04 

Sep 9304 91.95 9200 +006 

Est. volume: 56*64. Open Int.: I6S2T7. 

LONG SILT rLlFPE) 

558000 - Pts A 32nds Of 100 pet 
Sep N.T. N.T. 180-01 +0-11 

Dec 99-20 98-20 99-06 + 0-10 

Mw N.T. N.T. 98-20 +0-10 

Est. volume: 51257. Open Int^ 1)1011. 
GERMAN GOVERNMENT BUND (L1FFE) 
DM 2SM00 - Pts of 100 PCt 
DM 8933 8863 8827 +032 

Mor 8825 8825 88J6 +0M 

Est. volume: 141150 Coen Int: 141771 

lK^'3^iL®2y- BONDS tMATIF) 
FF5OO08O-Ptsol 100 PCt 
p»c 111.12 11036 11178 +068 

Mar 11008 1 0928 mat +066 

Jm 10908 10908 10934 +0*6 

Sep N.T. N.T. N.T. Unctl. 

Est. volume: 182031. Open hit.: 140.919. 


DMdwnds 


Company Per Amt Pay Roc 

IRREGULAR 
B&H Ocean Carrier 


Comstk PtnrSIFOA 
Comstk PtnrStFdO 
EuexPntyTr 
Swum It Resources 
Temnie Emm mw 
T ldetands Roy B 


. .15 10-3 10-12 

_ 0375 9-22 950 
. JM 922 HO 
. .4175 9-30 10-15 
B 025 10-31 11-18 
. 01 9-30 10-17 

_ 2885 9-30 10-13 


STOCK 


Chod Therapeutics 
Republic Bcp 
SY Bancorp 


- 5* 10-7 10-31 

-ION, H-4 17-2 
.10% 10-7 11-1 


Industrials 

Low Lost Settle CtTge 


High 
GASOIL (IPE) 

ILS. donors per metric ton-lots ot 100 tons 
040 Oct 15225 15150 15150 15125 +100 

5-58 Nov 15523 15350 15425 15425 +125 

110.17 DOC 15725 156.00 I562S 15625 +125 

1627* Jim 15900 15750 15800 15825 +150 

06*88 Feb 1 5925 15825 15900 159.00 +125 


STOCK SPLIT 
Porkvote Flnl Cp 5 tar 4 sellL 
INCREASED 

ANB COTP _ O 21 9-30 10-17 

FtaLee n tart Q .11 to-7 10-15 

Royoi Dutch Pete .21885 9-23 10-7 

CORRECTION 
WICOR Inc C 

edid rat report 0 reduced declaration Sept 
22nd. 

INITIAL 

Scot) & String n 

REGULAR 

ABC Bancorp 
Am Mutual Fd 

AmertFedFm 
Bk South Inotar, 

Brentwood Fin 
CtaroeCo 
COosloJ Fine/ 

Commrcl Intenedl 
Commnwlth Energy 
FedOnvBkWV 
FstFedSvps CO 
Gobles ResWenfl 
George Mason 
Goidentmnlcs CO 
Gwinnett Bneshrs 
HRE Prop 
Ho 1 /wood Energy 
Line Telecomm 
MGi Prop 
Ntl Service ind 
Farfcvale Finl Cp 

Pioneer Hi-Bred 

Pulse Bcp 
R eliable LflnwrA 


Simon Prapem 
Sumitomo Bk CA 
TJX Cos 
Taktronl* Inc 


.» 70-3 10-14 


095 920 10-14 
21 10-7 10-Tfl 

20 10-3 10-12 
055 11-30 12-29 
.15 10-5 10-17 
.48 10-21 11-15 
.15 9-3D 10-14 
.175 17-1 13-15 
.75 10-11 11-1 
28 9-30 10-30 
20 10-5 10-20 
65 107 ID-21 
.11 !<X> 10-11 

.15 9-30 10-26 
.15 10-1 10-15 
28 9-30 10-71 
20 9-30 11-15 
.13 9-27 10-10 
-22 10-3 10-72 
27 9-29 10-10 
.13 10-4 18-27 
.17 10-4 10-14 
.15 10-11 10-25 
23 11-4 12-1 
075 105 10-19 
20 9-30 10-25 
.14 11-10 12-1 
.15 10-7 10-34 


mnnual; 9-payaMe In Canadian funds; m- 
manthlr; a-wmrtarly; s-wnLannaal 


Borden Accepts KKR Bid, Shunning Kazarian 


Compiled by Our Stiff From Dtspaicka 

COLUMBUS, Ohio — Bor- 
den Inc. said Friday it signed a 
definitive agreement to sell it- 
self for $2 billion to Kohl berg 
Kravis Roberts & Co., brushing 
off last-minute overtures from 
Japonica Partners, which is 
headed by the financier Paul 
Kazarian. 

Hie pact closely follows the 
terms of a preliminary merger 
agreement reached earlier this 
month between the debt-ridden 
food company and KKR. 

The transaction would give 
Borden shareholders stock in 
RJR Nabisco Holdings Corp. 
equivalent to $14-25 a share, or 
half KKR’s stake in the food 
and tobacco company. 


. Borden shares closed Friday somewhere between 10 and 80 
at 514. down 12.5 cents: the percent Beyond that Japonica 
stock was trading at $ 1 1.625 be- offered few details, 
fore the KKR offer. Mr. Kazarian refused to sign 

Mr. Kazarian, the former a confidentiality agreement 
chief executive of Sunbeam-Os- that is standard before getting a 
ter Co., said Wednesday night close look at a takeover target’s 
that he intended to offer $16 to financial information. 

$18 a share for as much as 90 Borden has been staggering 
percent of Borden. under $2 billion in debt and 

But Mr. Kazarian and Japon- several restructurings in the 
ica made no specific offer dur- past few years. The company, 
mg a meeting with Borden exec- known largely for its dairy op- 
utives, instead presenting a erations, has a profitable indus- 
“letter of continuing interest" 
with what Japonica described 
as a menu of options. 

The options included “man- 
agement principals" and talked 
of letting current Borden hold- 
ers keep a stake of the company 


trial-products division, valued 
by one analyst at more than $2 
billion. 

Mr. Kazarian told Borden 
executives of plans for an “eq- 
uity injection" of $200 million 
to $500 million. He and bis 
team would evidently then step 
in and run the company, but it 
was not clear how Borden 
shareholders would immediate- 
ly benefit from that. 

( Bloomberg, NY T) 


U.S. /AT THE qoa 


American to Save by Grounding Jets 

mew YORK (APV — American Airlines said Friday it planned 
to ground jets through next year as a way to compete against 

IC MorejeS wmldbe taken out of sendee unless American's pilots 
agree in contract talks to help the company lower costs, said 
Robert Crandall, c hairm an of AMR Con?. Amen^s pamt 
company. He added that the company had made negligible 
. progress with the pilots union. ‘ . . 

American wants to save Si billion a year, $750 million of n m 
labor costs, so it can be profitable when it cuts fares to match 
rivals such as Southwest Airlines. 

Western Union Loses Pension Debt 

NEWARK, New Jersey (AP) — Western Union's pension fund 
liabilities will remain with its parent company instead of being 
assumed by First Financial Management Corp.. whuA won the 
bidding for Western Union Financial Services Inc. . 

A 0!s. bankruptcy judge ruled Friday that the liabilities of 
several hundred million dollars would remain the responsibility of 
New Valley Coxp^ which should have enough funds from the 
$1,193 billion sale of Western Union to cover the debt. 

First Financial said it would only pay $797 million for Western 
Union if it had to take over the pension-plan debt. 

Coca-Cola in South African Venture 

JOHANNESBURG (AP) — Coca-Cola Co. said Friday it 
formed a bottling venture with a black-owned business in South 
Africa. 

The A tlan ta-based company and Kunenc Brothers, operator of 
South Africa's largest Coca-Cola distributorship, each will own 
half of the new Fortune Investment Holdings Ltd. 

Josephthal Acquires Biotech Broker 

NEW YORK (Bloomberg) — Josephthal, Lyon & Ross Inc. said 
Friday it would acquire all the customer accounts and hire br okers 
from D. Blech & Co., rescuing the New Ycafc investment firm from 
a cH yh crisis that forced it to suspend operations Thursday. 

Josephthal will acquire Blcch’s New York and Florida offices, 
and retain 150 brokers. Blech specializes in buying into bfijtech- 

n °E>in PtujS! chairman said that David Blech would 

not join Josephthal. He did not elaborate. Josephthal bought the 
company for its expertise in the biotech industry, Mr. Pages said. 

GM Sells Rent-a-Car Unit to Vestar 

DETROIT (AP) — General Motors Corp. has agreed to sell its 
National Car Rental subsidiary to Vestar Capital Partners, a New 
York investment firm that specializes in management buyouts. 

Financial terms of the agreement, which was announced Thurs- 
day, were not disclosed, but a newspaper report said the purchase 
price exceeded $1 billion. 

The deal for National to retain its 6,400 employees and 
fulfill a long-term contract to buy cars for its rental fleet from 
GM. GM said it was selling National as part of its strategy to 
focus resources on its core auto-making business. 

Siemens, Coming Venture to Grow 

CORNING, New York (AP) — SKecor Corp.. a joint venture of 
is Corp., agreed Friday to 


Corning Inc. and Siemens 


V $135 


million for fiber optics-related businesses owned by ?Jorthem 
Telecom Ltd. of Toronto. Siemens Corp. is a unit of Semens AG 
of Germany. 

Siecor, an optical-fiber-cable maker, signed an agreement to 
buy Northern Telecom units in Canada, Mexico and Puerto Rico 
that make devices used mainly in connecting, protecting and 
managing telephone companies' optical fiber systems. ' 

CompuServe Makes Internet Deal 

NEW YORK (NYT) — CompuServe Inc„ a unit of H&R Block 
Inc., was expected to announce on Friday an equity investment in 
a one-year-old spinoff of Novell Inc. that provides Internet 
publishing services to commercial customers. 

The company. Network Publishing Inc„ will work with Compu- 
Serve to help commercial customers establish a presence-on an 
area of the Internet known as the World Wide Web. Together, the 
companies will help Internet customers manage security, perform 
customer billing and handle customer support, according, to 
James Hogan, director of product marketing at CompuServe. 


WORLD STOCK MARKETS 


Aganea Fram Prtnw SapL 23 

CtoatPrw. 


Amsterdam 

ABN Amro Hid 5820 58 

ACP Holding 3760 3ai» 
A noon 101-50 9820 

Afield 4920 4860 

Akzo Nobel 20660 20350 
AMEV 7130 70.70 

BotvWcsscmcu 3150 3190 

C&M .6760 6620 

DSM 151 JB 13038 

!'**V*® r 161J0 15900 

Fokkar 1560 1300 

GiSt-BTOCOtto 4400 41* 

HHG 297 297 

Maine ken 23000 238 

HWtoWWB 7B60 7850 
MwWWDWp'ra 77 76 

IHCCOlond 43 4120 

Infer Muglier 9200 92 

tarnNedonand 7520 7520 

KNPBT 
KPN 


Nudllovd 

OcaGiinten 

PokDoed 

Philip* 

Polvorom 

BafkaaB 

HWtVtl 

Rwtamco 

Roflnco 

Rorgnta 

Royal Dutch 

Stark 

Uni lover 

VonOmn^en 

Walten/Kluwar 


&7M 4700 
50.90 5000 
S3 5200 
5800 59.10 
7000 70 

48.10 4700 

55.10 5420. 
,7510 7500 
11400 11420 
.51.10 51J0 
11700 11700 
8130 8220 

184. ID 18460 
4528 45 

19190 19300 
4620 4660 
19460 19510 
118 120J0 


Brussels 


AG Fin 

Almonll 

Artoad 

Barra 

BBL 

Bakoerl 

CBR 

CMB 

CNP 

Cock arUI 

Cobepa 

Cotruvi 

DcUiaizr 

Etodrabel 

Elactrotmo 

GIB 

GBL 

Gevoert 

Gkivarbel 

immobol 

Kretflerbank 


PalroBna 
Powtrlln 
Radical 
RovaicBetoe 


2560 2550 
7678 7670 

«SW 4650 

2560 2475 

4100 4070 
24200 24275 
12175 12125 
2500 2493 
1945 1945 
200 190 

0+» 5450 
7470 7490 
1270 1272 
5380 5350 

3000 3040 

1382 1406 
4020 3960 
9150 9300 
4S25 4540 
2980 2900 
62*0 6200 
1440 1450 

9970 9980 

2800 2740 
4*0 490 

4000 4750 


Soc Gen Banqua 8030 8040 
SocGen Betotawe 2215 2210 


5oflna 
Sohray 
Tassanocrto 
iTmdrtjei 
UCB 

Union Mtalere 
wagon* Lite 


13625 13600 

14300 14350 
10300 10150 
9420 9390 
24200 24150 
2700 2690 
NA 7840 




Frankfurt 

AEG 16100161 JO 

Atoahri SEL 300 Ml 

Allianz Held 2359 2333 
Altana 631 6C 

Aska 860 8® 

BASF 311.1030800 

Bayer 35535200 

Bov. Hm bank 395 370 
BevVemnSbk 43150 421 
BBC 783 720 

BHFBonk 38438120 

BMW 7833S m 

Commettbonk 31550 312 
ConHnerttol 2375023400 
Daimler Benz 7815078100 
Desussa 47947650 

DiBOOCOdl 239 237 

Deutsche Bank >0650 780 
Douglas SOB 506 

Dresdner Bank 39839360 
FeldtnueMe 

PKrwpHetseh SWaow&ss 


Karnener 
Henkel . 
HocMiet 
Hoechst 
Hottmonn 


IWKA 
Kali Salz 
Kantodi 
KOUfhOf 
KHD 
Kteedmerwerke 
unde 


337 330 

58150 £79 
1002 1007 
3370033250 
917 919 
214 212 
354 356 

14914750 
610 607 

506 507 

W 13660 
14314030 
89850 093 


Oa*f Prev. 


Lufthansa 

MAN 

Mamesmann 
MotoiiaeMil 
Muench Rueck 




Helsinki 


Anw-Ytitvma 

Emo-Gutzell 

HvhtamaU 

ICO.P. 

Kvmnwne 

Metro 

Nokia. 

Poll tala 
Renata 
Stacknum 


106 106 
4550 44.10 
145 146 

1060 1000 
137 132 

15» 14$ 

545 535 
62 62 
101 101 
240 240 


iMUr i,MI< 


Hong Kong 


Bk East Asia 
Cottrav Pacific 


M-*n rijiq 

1260 1200 


8«»*wr SSSS 

Dairy Farm Inn 1098 1090 
Hone Lung Dev 1420 U0S 
Hong sang Bank S4M 5475 
Henderson Land 47.90 4860 
HK Ah' Eng. 3540 35.10 

HK China Gas 1465 1*05 

HK Electric 26.15 2305 

HK Land 19.15 19 

HK Reattv Trust 2005 SL10 

HSBC Holdings 87.75 8805 
HKShonuHtls 1105 11-95 
Telecomm — - - 


HK - 


1505 1500 


Hutch Whampoa 37 jo 3760 
Hyson Dev 23 2270 

Jardlne Math. *505 6575 
JOTdtaeStr Hid 3100 3100 
Kowloon Motor 1505 1578 
Mandarin Orient 1005 10 

Miramar Hotel 19J0 i960 
New World Dev 26.78 2675 
SHK Props 5775 5800 
Stelux 301 301 

Swire POCA 62 6105 

TalCMwigPnn 11.10 1B.9S 
TVE 4.12 4.15 

WDctrlHoM 3170 32M 

wiieetock Co i*.*5 1770 
winoOnCointl 117D ii j: 

Wtasorlna. li.is 11JE 

HOT^JJdg,: 983207 


Johannesburg 

28 29 

121 121 


AECI 
A I tech 

Anglo Amer 


Blyvoor 
Butte Is 
De Beers. 
Drfetartfein 
Gencor 
GFSA 
Hamtonv. 
HtghweW Steel 
Ktoal 

NedbankGrp 

Romftanteta 
Ruspiat 
SA Brows 
St Helena 
Sasel 

Western Deen 

vg&p.m 


24524300 
2875 2900 
1175 II 
59 56 

IDS 106 
7150 7D 
1450 1458 
128 127 

40 3900 
34 34 

73 7100 
3175 3108 
57 5600 
125 125 

8200 8273 
4900 NA 
3475 3475 
220 216 
.-574079 


London 


Abbey Naff 
Allied Lyons 
Aria wwolns 
Argyll Group 
Ah Brit Foods 
Baa 
ba# 

Bonk Scotland 

Barclays 

Boss 

BAT 

BET 

Blue circle 


3J8 

574 

265 

267 

577 

405 

467 

205 

197 

562 

4.16 

1/M 

275 


366 

568 

261 

276 

579 

473 

46S 

203 

504 

560 

415 

104 

279 


Close Prev. 


BOC Group 
Boots 
Bawater 
BP 

Bril Airways 
Bril Gas 
Biit Steel 
Brit Telecom 
BTR 

Coble Wire 
Cadbury Sch 
Carodon 
Coars Vtvolta 
Comm union 
Courtoukb 
ECC Group 
Enterprise Oil 
Eurotunnel 
FIS0RS 


GEC 

Gen-IAoc 

Glaxo 
Grand Mel 
GRE 
Guinness 
GUS 
Hanson 
HIlMown 
HSBC HWas 

Inetirape 

Klnomticr 

Lodbroke 

Land Sec 

Loparte 

Losmo 

Legal Gen Gro 
Lloyds Bank 
Marks Sp 
ME PC 
Natl Power 
Natweet 
NHIWD Water 
Pearson 
PIO 
PIBd noton 
P ower G cn 
Prudential 
RcnkOra 
Reckltt Coi 
Redtand 
Reed Inti 
Rearers 
RMC Group 
Rolls Rorce 
Rothiwn (unlit 
Royal Scot 
RTZ 

Satnsfaurv 
Scot Newras 
Scot Power 
Sears 

Severn Trent 

snail 

Slebe 

SmWi Nephew 
Smith KHneB 
Smith (WH) 
Sun Alliance 
Tate Si Lyle 
TOSCO 
Thorn EMI 
Tomkins 
TSB Group 
Unilever 
UMBbaiitB 
Vodafone 
War Loan 3Vi 
Wellcome 
Whitbread 
WUnamsHdss 
Willis Corroofl 


707 

575 

47D 

377 
374 
209 
164 
373 
114 
407 

461 
277 
105 

406 

462 

378 
305 
269 
1.18 

2.17 
264 

507 
573 
199 
179 
450 

508 
230 
177 
700 
874 
411 
400 
160 

4.17 

772 
102 
465 
570 

407 
464 
405 
476 
575 
570 
*60 
104 
526 
302 

411 
5L97 
5.15 

773 

463 

927 

176 

409 

412 
8.90 
307 
496 
107 
107 
578 
705 
503 
166 
431 

408 
32) 
435 
272 
902 
116 
213 


7.11 

572 
476 

402 
367 
10 * 
106 
369 

304 
4 

405 

271 

104 

405 

468 

175 

300 

275 

1.T7 

2.13 

203 

502 

573 
4 

101 

447 
505 
277 
179 
7.17 
877 
377 

404 
106 
605 
763 
103 

448 
572 

403 

411 
464 
470 
575 
502 
435 
108 
572 

305 
402 

505 

506 
77? 
464 
971 
177 

412 

405 
803 
417 
496 
190 
106 
Ui 


FT 30 Index : 234760 


500 
166 
436 
450 
3.13 
402 
260 
903 
115 
114 
1003 
305 304 

107 105 

40.19 4031 

402 *02 

136 Sill 
372 375 

100 169 


100 


Madrid 


BBV 3200 3130 

Ben Control Htsp. 2830 2815 
Banco Santander 5170 3150 


Benesh) 
CEPSA 
DroBOdos 
E ndesa 
Ereras 
Iberdrola 
Repeal 
Tdbacaleni 
Tcletonlra 


1000 997 

BOO 3185 
1965 1940 
5530 5378 
165 162 

836 017 

3815 3740 
3160 3180 
1750 W0 




Milan 

16700 16570 

ASSitdllQ 13750 13750 

: i7w 1758 

Bco Asrteeltura 2000 2710 
BraCommer ITOl 3965 3925 

Nn Lovoro 13000 12870 

Bra Pop Novo ro BUM 8390 
Banco tfl Romo 1805 I7H 
BCO Ambnnlono 4180 4165 
BCO NdPOJI rljp 1320 1330 
Benetton 21400 21350 


Generali Assic 
IF1L 

Itakenientl 


Close Prev. 

Credlto Italtano 2150 2120 

Enlchem Aug 3050 3t».; 

Fertln 1630 1*10 

Ftotspa 6715 6405 

FtaanzAandnd 10950 ioboo 

Finmeccanica 1616 1620 

“ " ‘ 1141011310 

39400 39600 
5945 5840 
11575 11510 
5485 5405 
13740 13525 
MQ5 1380 
2000 2015 
2640 2590 
25050 25100 
9380 9X95 
Son Paolo Torino 9280 9200 
SIP 4230 4285 

SME 3845 3B2D 

SntabPd 2240 2200 

SfOiKta 32900 33400 

Stet 4535 45*0 

Toro Assic 26900 27100 

«£££matto:W737 
rrmous ■ iroot 


Medloban a» 

Mooted ban 
Olivetti 
Pirelli SPO 
RA5 

Rtaascente 


Montreal 

Afra Ltd I 13% 13% 

Bank Montreal 2TI* 23h> 
BCE Mobile Cam 38 3799 
Oil Tire A 1116 11 

Cdn UI1I A 23W 23 

Cascades BK BH 

Crowns Inc 14K 16H 
CT Flirt Svc 18 m. 
Gaz Metro 12W 129b 

Gt West Ufeca 20V5 20W 
Hoes Inti Bra 13* 13% 
Hudson's Bay Co 2SH 28K 
Imasco Ltd 3796 38K 
Investors Grp Inc 16ft 16ft 
Labatt (John) 22% 22 

LabtawCae 2196 22 

MoIsooA 20% 20ft 

Natl Bk Canoda 9ft 9% 
Oshnwa A 19ft 19ft 

Pancdn Petralm 42ft 42ft 
Power Corp 19» 20 

Power Flirt 2? 29% 

Quebecnr B 17ft 17ft 

Rogers Comm B 20ft 21ft 
Royal BkCda 27ft 27ft 
Sean Canada Inc 7ft 7ft 
ShoUCda A 45 43ft 

Southern Irc 16ft 16ft 
SMCOA KV> 8ft 

Triton Flnl A 300 308 

1NUS 


Paris 

I Accor 620 619 

Air Ltaukte 733 718 

AKntel AUttwm 554 549 

|Axq 235-40 22800 

IBoncafre <aej .515 506 

BIC 1330 1315 

BNP 23900 236J0 

Bouygues 605 600 

Danone 710 692 

Carrefour 2145 2120 

C.C.F. 215J0 209 

Corns MB 109 JO 

Owraetirs 1318 1340 

Omenta Franc 289 295 

ChjfiJVUd 4B44S3S 

Etf-Aaultaine 39600 386 

Euro Disney 800 805 

Gen, Eaux 495.9041400 

Havas 435 427 JO 

i metal 575 5*1 

LatorgeCoopw 43241800 

Learand *580 6810 

Lygn. Eaux 496J8 48800 

Oreal (LI 1145 1129 

LVJ6H. 875 868 

Mafre-Hachette M 106 

Mlctielln B m. 70 227 JO 

MauHngx ra 123 

Porfeoa 326 371 

Peditaevlnti 14208 itoJO 

Pemod-RIcond 3W SOS 

Peugeot 795 7*1 

P Incult Print 918 906 

RadtatcchnlqM 518 518 

Rn-Poulene A 1230012270 

Raft St Louts 1406 1386 

Sanofi 967 941 

Saint Gobdn 660 *51 

ere 332 522 

S*e Generate 534 538 

Suez 25124308 

ThomWi-CSF 13S __ 13? 

TOM 32331600 

U00, 1350013500 

Voted 278 2751 


Sao Paulo 

Banco (to Brasil 22/H 2200 
Banesao 900 1IL21 


Close Prev. 


Bradesco 

Bratima 

C«nlg 

Eietrobr u s 

lkmtxa»co 

Ugtrt 

Parana ponemo 

Petrobras 

Sauza Cruz 

Tolebras 

Teless 

Ustmincn 

Vale Rta Dace 

Varto 


800 700 
253249^) 
8700 B* 
387 379 

Z7250 278 

324.99 312 

1206 1300 
1*147 166 

7-76 700 
5200 52 

505471-99 
1J0 132 
169 167 

Ml 200 

sswfssy 53,92 


Singapore 

AaloPoc Brew 1630 1640 
Cen^BS 8-05 700 

Oty Devefoamnt 735 70S 
Cyde&catTtage 13 is 
MS. 1000 1000 

DB5 Land 400 400 

FE Levinoslan 630 630 
Heave 1640 16 

Gt Eastn Life 2730 
Hong Leons Fin 434 432 
InchcoRe 500 505 

Junoraj Shipyard 1300 1300 
Kay Hian j Caoei 1.97 1.9* 
ggtol 1100 UJS 

Natsteei 130 128 

Neptune Orient 334 225 
OCBC foreign 1420 1430 
(Tseas Union Bk 60s 600 
O'seas Union Ent B30 030 
Sombowang 1100 1100 
Sbne Singap ore i/n 1/s 

Sing Aerospace 236 235 
Stag Airlines tarn 14.10 1430 
Stag BUS Svc 935 935 
Sing Land SJS 175 

Stag Pettm 208 206 

Stag Press tarn 26 2SJ0 
Stag ShiPbMg 
Stag Tetecmnm 
Strolls Steam 
Straits Trading 
Tat Lee Bank 

Uld industrial .„. 

Utd O^ea Bk torn 14.90 1400 

Utd OVeas Land 200 237 

SEE £*&&* 


265 204 
If) 330 
404 4J2 
104 lea 
434 4J6 
.101 101 


Stockholm 


AGA 
Aseo A 
AstraA 
Altos Copra 
Electrolux B 
Ericsson 
Esaelto-A 
Handel sban ken 
Investor B 


67 67 

564 564 
182 180 
9600 9* 

363 363 

403 404 

9300 92 

94 9200 
168 1*7 

239 341 
132 129 

115 113 

118 115 

47 4500 
12S 121 

153 152 

131 129 

431 424 

102 9800 
137 134 


Norsk Hydro 
Proceed fa af 
S andvtk B 
5CA-A 
S-E Bcnken 
Skandla F 
Skonska 
SKF 
Stura 

TreUetaargBP 
Volvo BF 


Sydney 


Amcor BJ5 832 

ANZ 190 195 

|HP 1934 1908 

Bonn 338 300 

Bougainville 14s no 

Coles Mver 1*8 4JJJ 

Comal co 505 500 

CRA 1100 1806 

CSR 400 401 

FoWrsBiw T.11 1.11 

Goodman Flew 132 138 

ICI Australia 1000 1000 

Magellan 10S 105 

MIM 203 2.94 

Nat Auto Bank 102* 1032 

Nows Cora 125 837 

NtaeNetwh 4,17 4JJ9 

N Broken Hill 304 170 

PpcDuntao 4.13 4.14 

Pioneer Inti US 3.T3 

Nmnav PaseWon 202 205 

<KT Resources 14 10s 

Santos 177 178 

TNT Z32 t35 

western Mlntag 114 834 

Westaac Ban king 434 423 

Waoaskte 405 404 

All Ortfllt fl rtM tadto; 202738 
Pmtoae : 20838 


1 Toronto 


AHUM Price 

■ Lj^l 



■trj 



^ '^i~i 






36 



26ft 


Bk Nava Scotia 



BCE 







i Vi 











CIBC 

31 Vi 


Cdn Natural Rn 

18ft 


Cdn Occld Pet 

30 

I Jfli 

Cdn Pacific 


23 Vb 


6ft 

6ft 

Camlnea 

24ft 

24 ft 


16ft 

16ft 


23ft 

23ft 


13 

13ft 


10ft 

1? 


IBft 

17ft 

Empire Ca. A 

14 

ljft 

Ftacanbrldge 

21ft 

21ft 

Fletcher Oiall A 

Wife 

19ft 

Franco Nevada 

87 

86 


Sft 

Oft 


lift 

15ft 

Horsham 

21 ft 

21 ft 

Imperial Oil 

W ■' J 

43 

IRCO 

M~1 IT' [ 

41ft 



29 


E n f ,'l 

17Vi 

Lcktiaw a 

10ft 

10ft 

Laiaiaw B 

10ft 

10ft 

Laewen Group 

32U> 

32 

London Insur Go 

23 

23 

Macmlli Bloedei 

20 

20 U, 

Maana Inti A 


49 U. 

Maple Leaf Pas 


lift 

Moore 

%'L • 

24ft 

Me® bridge Netw 


44ft 

Noranda Inc 


27ft 

Naranda Forest 

W 

12ft 

Morcm Energy 


17ft 

Nthern Telecom 

48ft 




HH f~H| 

Onex 

14 ft 



lift 


Placer Dome 

34ft 



51ft 


Pravtaa 

5ft 

rVI 

PWA 

862 


Quafaecw Prim) 

1SU. 


RffPffiTmnff Eny 

^ ^ ^ 


RJo Ateom 

VI 


Seagram Co 


MfrMl 

Stone Caasold 

B 1 


Talisman Eny 

W-i’l'i ■ 


TeJoglobe 

17W 

17ft 

Telus 

16ft 

16ft 

Thomson 

15ft 

15ft 

TorDom Bank 

2ftft 

20ft 

Transalta 



TramCda Ripe 


17ft 

Utd Dominion 


25ft 

Utd Wtstb-rm 



Westcoast Ertv 



Weston 



Xerox Canaan B 

Vj 

46 



Market Qosed 


The Tokyo stock 

market was 

closed 

Friday for a holiday. 

Zurich 


AdJa Inti B 

233 

236 


m 



1168 


□baGelavB 

758 

749 

CS HaldmfB B 

S47 

549 

ElektrowB 

350 

351 

Fischer B 



lnteraisrauMB 

2230 

2210 

JetmotlB 

908 

90S 

LOfldUGvr R 

761) 

755 




Nestle R 



Oerllk. Brjfihrie R 

13413400 

Parana Hid b 

1550 

1525 

Rod* Hdg PC 

6050 

6060 

Stare ReouHIc 

106 

106 




Schindler B 

8025 

8025 

Sutler PC 



Surveillance 6 

1955 

1925 

Swiss BnkCoroB 

372 

373 

Swfss Reinsur R 



Swissair R 

023 

826 

UBS B 



Winterthur B 

687 

688 

Zurich Ass B 

T300 

1275 





U.S. FUTURES 


Via AnodoMl Proii 


Sep.. 23 


Season Season 

Hun Law 


Qdcti High Lew Ckne Chg OoJnl 


Grains 

WHEAT (CBOT) MCOBunMWiiuiri-eaaar>B(rBvUw< 


198>«i 

3JW 

Dec 94 

194 

197 

3.92ft 

196ft ' O.CCVj 4.114 

4 05’'i 

357 

Mar 95 .102 

404'.: 

4D0ft 

4 04ft -1X03' i 19/101 

3.91 'l 

3.1*'>May95 3.90'-. 

192' 'a 

187 

191ft *0JUft 

2.831 

i*: 

Ill 

Jul 95 

3-61'. 

l*3ft 

15»ft 

1*31, -aoita 

4J54 

JjM 

351' 

See 95 

165 

165 

li/'l 

165 • aQ2ft 

5* 

3J7W 

U5 

Dec 95 

ITS 

175 

171 ''s 

171 ft -0.00ft 

79 


Eii uses 15/no TDu's. sates 17083 
Thu's ooemni 7403* att SI* 

WHEAT fKBOTJ JJXXl Du JoHarL or, bmhcl 

4/C H2'vDec94 1*9 40Jft 1*9 4D2 -CUD ft 25.41] 

40*'-* 125 MCT9S 404 401 4J3 AO* *002 11.736 

1W 331 May 95 1*4 1** 19IK. lVSlkiaOlft 990 

i«', 116't Jul95 16511 347>i 1*3' A J07 -OOl'/i 1,712 

1M'6 339 £a>« 1*9 169 J09 14* * 002ft 40 

165 3001. Dec 95 172 “6 -OJat 1 

Eto. sales NA. Thu-S-saHs A 793 
Thu’s open in) 39094 up 352 
CORN (CBOT) SOTnnvmrnjm-aoncnefrDuinai 
277 215ft Dec 94 llt't 2.17ft 214Vi 117 --008ft 13*031 

182 ft 23ft Mor 95 237Vj 237ft 236ft 23*ft- 0/Bft 41,211 

205 232":MOV *5 234ft 234ft 233ft 234 -000ft 1*032 

285ft 236ft Jul 95 2JVft 239ft 238 Z38ft-400ft 17J09 

170V, 139 sen 95 243 243 202ft 2«ft-0JHft 1.18* 

203 235ft Dec 75 Zi*ti 246*i 20ft 20*ft-4OOft 6323 

203 252ft Altar 96 707 702ft 301ft 2J2ft-«0Oft 1 

142ft 205V Jut 94 25* -101 56 

Est. sales 20000 rnu's. sates 16447 
Thu'S open 4)1 217.534 off 418 
SOYBEANS (CBOT) S0OOfiumlnlinum-doBanparMM«< 





6SSft 

152 

5J4 

> 0.01ft 79,123 

7JM 

5J9 JonlS 

SM'.m 

SA5ft 

162 

£*4U ‘0.01 ft 1907* 


169 Mar 95 175 

175ft 

5J2ft 

5JJft 

♦ D/llft 11077 

7.05ft 

175ft May 95 

502ft 

| ft 111 

5L8ift *om 

50*8 


SJ*ft-M9S 

1- :a71 

IVi-l 

ELICj 

187ft MLQlft 11075 


5.79 Aue95 

509 

189 

£88 

Uteft >0/11 

2M 


5-77 Seo IS 

sse 

£90 

£89 

190 

-tUJlft 

«* 




£98 



4092 

6-2) 

6.12 Jl4 9* 




£14 

*(L(Z7 

3 

E3-«*-i 13,400 Thu'6 stars 31004 




Thu’s open >« 131/15 

UP 2601 





SOYBEAN (MEAL (CBOT) 



2070) 

164.900a « 

165. BO 

1*600 

16400 

16110 

— OJD 13,116 

209-00 

1*140 Dec W 

16680 

1*690 

16110 

161*0 



1*4.90 Jan 95 

16650 

1*650 

1*7.10 

16700 

-100 10050 


17tU»Mor95 

17100 






173/10 May 95 17400 

17400 

173/10 

17310 




17400 Jul 95 

176-50 

17650 

17150 

17500 

-000 

3083 



177 JM 

17600 

17600 

—0-50 

543 


175/K) Sec 95 

177.00 

777 JM 

17620 

17600 


ill 






17700 

>200 

4 


176-50 Dec 95 

iao/n 

IBOlOO 

179.00 

179/10 

>000 

1*3 

EsT. Kites leUMO Thu's, sates uj*7 





UP 21 






SOYBEAN Ott. (CBOT) MU00 an - oofon w' : 00 tn 




22.10Oa 94 

2610 

2144 

2105 

21 M 



2300 Dec 94 

24-60 

2109 

2655 

2407 

>00* 37053 

2855 

2245 Jan 95 

2407 

74.00 

2405 

3461 

‘003 

7,948 



24-1 B 






2805 

2393 May 95 2UB 

2405 

2393 

24.13 

+ 0.14 

UN 



23A5 

23.95 



>0.10 



2205 AUO 95 

2775 

2185 

2175 

SX85 

+ 007 

547 





2300 

2178 

+QJJ9 

192 




Z365 




119 

2185 

2180 OK 95 

2 162 

2170 

2150 

2300 

-0.W 

156 


Season Season 

t*9h Low 


Tlu/s open int 

COCOA (NC5E) IDmctrui 

1988 1041 Dec 94 1336 

1*05 1077MCT 95 IS? 

1617 1 om May 95 MU 

1600 1 225 JM 95 1446 

15*0 1 447 Sep 95 1473 

1633 1290 Dec 95 1498 

1*16 1350 Mor 96 

1*0 1725 MOV 9ft 1570 

Eto.uftes 70000 Thu's. tales 4,576 
Thu’c open ini 

ORANGE JUICE (NCTK) IS^NPk-canniiwft 
134.00 85/»Nov9a 94J0 95.10 9300 94.95 -8.15 11 084 

13200 6900/cvi 95 97.90 9800 97.10 9100 *015 4035 

12425 9100 Mar 95 10100 IOLBO 10070 101 A0 tlUB 4035 

11425 9)00 MOV 9* 10500 105.00 10470 10500 -001 951 

11*00 10000 Jul 95 10700 1Q77I 106.95 107 JO —075 

Sen 95 11070 -070 70 

11160 10900 Nov 95 11270 *000 431 

11W» 10500 Jan 9* 11220 *128 18 

ESI. sales 2000 Thu's, srfes 5083 
Thu's open int 24008 off 192 


HWl 

Low 

ao*e 

Chg 

OP AY 

H«n 

Low Opm 

Meh 

Low 

Clese 



1101 

— 001 

I 

10790 

IA640 Mar 95 10730 

1 5700 

1JU0 

L5736 

17.58# 





1-5*60 

10MJun«S 



10670 






Esr.tates NA Thus. ulos 

6978 



■irerlw 




Thus open kit 31012 all 341 



IM 

132* 

1311 

.44 4X939 

CANADIAN DOLLAR (CMBU i«r 

■Sr- 1 do** xn*! 

1435 

rare 

142* 

• 40 1506* 

00*70 

DJU30DCC94 00442 

0.7*42 

0 7428 

00437 

146) 

1410 

MSS 

140 

4,575 

00*05 

00020 Mar 9S 0043! 

07437 

07428 

0.7432 

1495 

1*4* 

1488 

145 

1642 

00522 

0-4990 JUn 9S D0CO 

00423 

0.7415 

0.7423 

1472 

1472 

1515 

*45 

1094 

00345 

069*5 Sen 95 



0.7408 

1498 

1498 

1341 

‘45 

4075 

00400 

00040 Dec 95 



00391 



1570 

• 45 

3094 

Eto. Kites NA ThUl. sates 

1.709 



1581 

1570 

1603 

‘45 

216 

Thus open Ira 460*6 up a 





Metals 


917 


Est.tatss ha Thu" Stales 22010 
Thu'sopailnr 81040 up 999 


Livestock 

CATTLE (CMER) UOTW-crnnrB. 


*SJOOa94 7000 7070 70.17 7012 -005 2*003 

6700 Dec 94 6970 6973 **.17 69J2 -008 20979 

47 75 Fen 95 6027 6077 6705 *700 -030 13017 

6600 Act 95 6905 6907 6900 6975 —0.17 70*6 

*500 Jun 95 4635 6440 6415 6670 -015 2049 

6I0OAUO95 6500 *505 6507 65.90 -OID 1JH8 

6410OCI7S 6*70 6420 4405 4420 -6.10 127 

Ea. softs 10. MS Thu's, sides 13.170 

Thu's Open inf 73501 ot) 1365 

FEEDER CATTLE (CMER) SWOOfcv-rrm, D»* b 

7500 72 1 5 S«J 9J 7060 7370 7305 7302 —0.10 1009 

7O05OCJW 7307 7XJO HUB 7157 -0.10 3.1® 

7200 MTV 94 7445 7405 7415 7432 —Oil 1658 

73.75 Jon *5 7195 7410 7167 7190 -020 “ 

71 00 MW 95 7205 7290 7270 7272 -018 

71 00 Aar « 7203 7205 7200 7200 —430 

71 00 May 95 7U0 7230 7287 TUB —023 

71 00 Alin 93 

Est. salts 1,158 Thu'S, sates 10*8 
Thu'S open int 9,73* UP 43 
KOS5 (CMER/ AMeuanurk 
49JJ 36JJ Od 94 37.10 3705 J497 37,27 

3700 Dec 94 3707 3800 3700 37.97 .... .... 

I475Feto9S 3900 3900 349S 36.97 -80S 4084 

3475 AJV 95 3937 3900 39.10 39.15 —002 2016 

4175 Jun 95 4430 4443 *4 25 4440 817 

4175 Jul 93 4435 4435 4430 4US 

427DAUB95 015 4120 0.10 4115 

3170 OCT 95 40.15 40.15 4110 4112 

4000 Dec 95 flJO 41 JO 4105 4105 

Est.scries 5J37 Tiers, sales &708 
Thu*seceni nl 3 973 9 off 113 
PORKBBXffiS (CMER/ 4MMtok-nnteP*rl> 

*005 3870 Feb 95 3975 3975 3805 3870 -05 7085 

*020 3L»Mar95 3900 3905 3U0 3870 -407 536 

*1.15 39.90 May 95 405 4000 39 06 3975 -400 140 

54/D 40- 90 All 95 4100 41 JO 040 4070 — 0.35 174 

4400 dUSAin95 4000 *8100 39*5 3975 -000 39 

Ea. sates 2086 TWs.scaes 20M 
TTersapen W 8.563 ott 4 


a 10 
7400 
74.25 
75.10 
*9 JO 
* 8.10 
*705 


81 JS 
8800 
8005 
80JS 
76.90 
7630 
TUB 


5000 
5000 
4 800 
47 JD 
4600 

4140 

4000 

4100 


7200 


'0.10 


*022 9091 
>007 12001 


HI GRADE COPPER (NCMH 3UD4 in-cnnmb 
17400 74*0 Seo 94 IM20 12100 12620 12700 * 205 2723 

11700 75.75 Dec 94 11620 11900 11820 11B7S +125 429** 

116*0 7690 Jan 95 11800 118.90 11800 11810 +120 575 

11570 7200 FeO 95 11700 11700 11700 11705 +1.15 395 

DSto 73.00 Mar 95 11*00 11700 11641 11600 +1.1B +898 

11400 7605 May 95 11570 11800 11130 11505 tlJB 1284 

11140 7800 Jul 95 11430 11470 11428 11439 1100 1060 

11240 79.10 Sep 95 11300 11230 11200 11200 +000 730 

12000 782000 95 12200 122.00 131.15 12123 >100 2027 

11800 7775NOV9S 110.00 11000 11000 119J5 >10S 738 

11675 S8 00 Dec 95 11200 11220 11200 11100 +000 

10800 8800 Jan 9* 111.10 +1.J0 

114*0 91. 10 Apr 96 11650 11600 11635 11615 +105 

108.OT 10820 May *4 109J5 +895 

11300 104.10 Jun 96 11400 11400 11400 11450 +lj» 

JMM 10805 *0.95 

11205 11100 Auo 9* 11245 t05S 

Est. sates 15000 Thu'S, sous un 
Thu's open mr dtwoo up 3« 

SU.VT 

4150 493054P 94 5*80 5730 5(70 5680 +00 407 

5490 

5970 

5710 
6040 
6065 
6180 
6000 
628.0 
6120 
6180 
5870 

Est. sates 20000 TTeTs. sates 73770 
Thu's open ht 116871 up 2111 
PLATINUM (NMERJ en«DL-MnHrn,« 

43840 368000/94 47100 422.90 42000 4WI1 B 4.000 80*9 

QSJ0 37400 Jan 95 42*00 427.90 4300 42*70 +000 11^38 

43900 39800 4pr 95 429 JO 43100 42900 43000 >000 2-472 

43500 419-50 -W 95 4XLS0 >000 

43*00 tnmaass ossa >000 

Eto. sates 5042 Thu's, sates S0S8 

Thu’ s open kn 23J73 up a 

GOLD (NQUX) 100 kev ot> dollars n*r Ira* ox. 

41700 344000094 39630 39770 39600 39640 +1*0 UH) 

Nov 94 moo >0*0 

42650 34300 Due M 39900 400J0 399.10 399.40 +D0O1D9.7C9 

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Reuters 
CU. Futures 
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previous 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 24-25, 1994 



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EURO 


Spain’s Budget 
Clamps Down 
On Spending 


A«iren 

MADRID — The Spanish 
cabinet on Friday approved a 
1995 budget that it hopes will 
keq> spending under control 
while helping to revive the flag- 
ging economy. 

Economy Minister Pedro 
Solbes said spending would re- 
main virtually flat after infla- 
tion but that the budget includ- 
ed several measures to stimulate 
the economy. 

The budget will also help 
Spain meet the requirements 
laid down by the Maastricht 
treaty of 1992 for European 
Union member states to parti ci- 


hwestments Help 
Telefonica Unit 

Bloomberg Bututea News 

MADRID — Telefonica In- 
ternational SA, the overseas 
subsidiary of Telef6nica de Es- 
pafla SA, said Friday its first- 
half net profit rose 80 percent 
because of a sharp increase in 
income from investments. 

The subsidiary earned a net 
11.39 billion pesetas (S89 mil- 
lion), while income on invest- 
ments totaled 17.67 billion pe- 
setas, up 103 percent. 

The company increased its 
stakes in Compania de Tele- 
f6nos de Chile by 43 percent 
and in Tdef6nica de Argentina 
by 264 percent, which helped 
investment income. 


pate in a monetary union. Mr. 
Solbes said. 

The budget estimated 200,000 
jobs would be created next year, 
while the budget deficit would 
fall to 4.6 percent of gross do- 
mestic product, down from a tar- 
get of 5.0 percent this year. 

Mr. Solbes said spending next 
year would be moderate and be- 
low nominal GDP growth, in 
line with the goal of reaching the 
Maastricht treaty’s public-sector 
budget deficit target of 3 percent 
of GDP by 1997. 

He said the budget would 
would “help the recovery while 
creating employment.” The 
economy, he predicted, would 
grow by 2.8 percent next year, 
after an expected 1.7 percent in 
1994, with inflation at 3.5 per- 
cent, down from estimates of 
4.5 percent this year. 

Mr. Solbes said the budget 
was an attempt to speed Spain's 
economic recovery and create 
jobs in two ways. 

“First, there is a substantial 
reduction of the public-sector 
deficit, by which we hope to 
ease the pressure on interest 
rates and facilitate their reduc- 
tion,” he said. 

“In the second place, there 
are a group of measures that 
will allow a reactivation of in- 
ternal demand, both in con- 
sumption and investment. In 
that sense, it is a rigorous and 
austere budget, but suited to the 
current economic situation,'' he 
added. (Reuters, Bloomberg) 


Rocky Roads for Truckers in Italy 

Bandits Turn Highway Robbery Into Big Business 


By James Haasea 

IrUemancmal Herald Tribune 

MILAN — Highly organized teams of 
thieves operating along Italy’s super- 
highway system are hijacking trucks at a 
rate of about one every 80 minutes of 
every day of the year. 

Bandits grabbed 6.655 trucks and car- 
goes in 1993 and Italian police data show 
the trend is holding this -year, with 3.263 
rigs missing in the first six months of 1 994. 

“Italy has become ihe Bermuda Trian- 
gle of European trucking,*’ said Piero 
Marc o L uzzati. general secretary 0/ 
CONFETRA. a trade association group- 
ing Italian transport companies. 

In 1992, when more than 8,000 semis 
were stolen in Italy, only about 100 were 
stolen in France' and less than 10 in 
Germany, said Bruno Taralletto. a re- 
searcher at Eurispes, a Rome-based 
think tank that has studied the problem. 

Italian insurers estimate the overall 
cost of hijacking between 6 trillion lire 
and 7 trillion fire annually (about $4 
billion ), according to Fabio Quaglia, a 
Milan-based insurance broker. He said 
the missing cargoes alone were worth 
about SI billion annually. 

Much of that loss does not come from 
Italian pockets. “Insurers here resell 
their risk abroad.” said Bruno Alpini. 
risk manager at Zust-Ambroseiti Tra- 
sporti Intemazionali SpA, one of Italy's 
largest trucking companies. “In mone- 
tary terms. 90 percent of it winds up with 
foreign underwriters." 

Possibly because the losses are largely 
someone else's problem, the Italian gov- 
ernment has been slow to address the 
issue. 

“We've been trying to get them to do 
something about this.” Mr. Luzzati said. 
“Each time a new government comes in, 
we try to alert them to the issue, but 
nothing ever happens.” 

Mr. Luzzati said the hijackings have 
evolved into their own cottage industry 


that officials were hesitant to shut down. 

“The dimensions of the phenomenon 
are so great that 1 suspect the govern- 
ment worries that shutting it down 
would throw a lot of people out of work 
— and that’s always politically unpopu- 
lar,” he said. 

Worried truckers have taken to travel- 
ing in convoys, especially in the so-called 
Mezzogiorno. the southern part of the 
country where organized crime makes 
the problem particularly serious. Some 
truckers have said the Army should pro- 
tect major truck routes. 

“A few years ago, we found it neces- 
sary to temporarily suspend service in 


'Italy has become the 
Bermuda Triangle of 
European trucking/ 

Piero Marco Luzzati, 
head of an Italian trucking 
trade group. 


Lhe Mezzogiorno," Mr. .Alpini said. The 
company has also closed its Naples ter- 
minal. “Beyond outright theft, attempt- 
ed extortion and continual requests for 
bribes made the operation uneconomic.” 

Some larger trucking companies are 
experimenting with satellite tracking sys- 
tems and radio-telephone panic buuons 
to protect drivers and their rigs, but 
results so far are disappointing since po- 
lice often fail to reach the theft site in 
lime to intervene. 

“The hijackers will take anything 
which can easily be resold," Mr. Luzzati 
said. “Consumer electronics and small 
appliances are high on the list, but so is 
cheese, clothing and even low-end per- 
fumery like deodorants and after-shave." 


He said be was convinced most hijack- 
ing was done 10 order. “These loads have 
been identified and re-old before they 
even leave the terminal.” he said, “ft 
requires a large and efficient organiza- 
tion to dispose of a tractor-urailerload of 
egg beaters in a few hours, and you’ve 
got to know it's coming.” 

Although police have been singled out 
for criticism, Mr. Luzzati said some driv- 
ers appear to be more willing victims 
than others- “Some truckers seem to 
have astonishingly bad luck,” Mr. Luz- 
zati said, adding that some drivers had 
lost more than 10 loads. 

Insurance companies have taken no- 
tice of the problem and the result has 
been almost an unofficial blacklist of 
allegedly less-than-honest drivers. 

“Insurers are be ginni ng to exchange 
information about lost cargoes, especial- 
ly since foreign underwriters are much 
less willing than before to reinsure this 
risk," Mr. Alpini said. 

According to Paul Utile, chief of the 
cargo division at the British insurance 
broker Lowndes- Lambert Group Hold- 
ings, “many underwriters, certainly in 
London, now exclude Italy from nonnal 
rating schedules and will either ask high- 
er premiums or, for the most pan. simply 
refuse coverage." 

Italian police, stung by the implicit 
suggestion that they cannot keep order 
on the highways, cite a sharp drop in 
reported hijackings between 1992 and 
1993 as proof they are finally beginning 
to come to grips' with the epidemic of 
highway rob ben 1 . Hijackings fell 19 per- 
cent from 1992' to 1993. after rising 20 
percent from 1991 to 1992. 

“Unfortunately, that drop only re- 
flects the collapse in demand as the re- 
cession hit,” Mr. Luzzati said. “This 
thing is so big it obeys the same laws of 
macroeconomics as any other major in- 
dustry. As the economy comes back, so 
will the thieves.” 


Investor’s Europe 


Frankfurt 

DAX 

2E0 


London 
FTSE 100 Index 

3400 - - - 



^ A M J J 


i " , 1 ' a 2800 "* ii" m 1 « 


A S 



1994 

1994 


1994 

e 

Exchange 

Index 

Friday 

Prev. 



Close 

Close 

W 

Amsterdam 

AEX 

403.81 

400.36 

+C 

Brussels 

Stock index 

7,255.14 

7,238.37 

*c 

Frankfurt 

DAX 

2,069.12 

2,073.03 


Frankfurt 

FAZ 

790,32 

786.75 

*c 

Helsinki 

HEX 

1364.14 

1,842.56 

+1 

London 

Financial Times 30 

2,347.60 

2,540.60 

+0 

London 

FTSE 100 

3,028.20 

3,021.20 

+0 

Madrid 

General Index 

297.96 

294.46 

+1 

Milan 

MISTEL 

10737 

10689 


Paris 

cacao' 

1,927.35 

1.899 37 

f 1 

Stockholm 

Affaersvaerldan 

1.822.57 

1.809.1 f 

~*c 

Vienna 

Stock Index 

441.26 

43S.87 

+6: 

Zurich 

SBS 

826.74 

927.38 


Sources. Reuters. AFP 


Inn-nun- -tut IT.-rJJ > a 


Very briefly: 


• Arbed SA said the Luxembourg steel company had narrow ci 
first-half loss to 756 million Luxembourg francs (522.7 null, 
compared with a 3.03 billion loss a year ago, as sales r,.-. 
percent, to 105.2 billion francs. 

• Standard & Poor’s Corp. said it had lowered the rating 

Daimler-Benz AG long-term notes to AA-minus from AA. «. .. 
difficulties in the European automotive industry and world ... 
space markets. S&P also downgraded Airbus Industrie's long , 
debt rutting to AA-minus from .AA because of the P.ii. 
downgrade; Daimler owns 37.9 percent of Airbus. 1 

* Germany's upper house of Parliament, the Bundesr.it. blr. 1 
the government from licensing companies to deliver pr...’ 
matter before the post office's monopoly is lifted next year. 

* The Rundesrat passed a bill that paved the way for Siemens A 

Thyssen AG, and Daimler-Benz AG to build a high-speed mag. 
ic train and operate an 8.9 billion Deutsche mark (S5.6 bill. 
Ham burg -Berlin roil link. Bloomberg, afx. 


DISNEY: Executives Say Operations Suffer Consequences of Falling Out Between Eisner and Katzenberg VOTE: Poll Makes Investors JTbi 


Continued from Page 9 

role in animation and even tak- 
en some credit for the new film 
“Quiz Show,” approved by Mr. 
Katzenberg. 

The level of rage between Mr. 
Eisner and Mr. Katzenberg 
hardly diminishes their extraor- 
dinary success. 

Except for “Jurassic Park,” 
which was made by Universal 
Pictures, the highest grossing 
films in history are From Dis- 
ney: “The Lion King.” “Alad- 


din” and “Beauty and the 
BeasL” 

The company's revenue 
climbed to SS.5 billion last year 
From $1.45 billion in 1984. 
Shares of Disney trade near $40 
currently, up from $3 in 1983. 
(The company’s main problem 
in recent years has been theme 
arks, notably Euro Disney- 
d, near Paris.) 

Mr. Eisner oversaw the 
growth of the whole company, 
from its theme parks to its 
stores to Its films. Mr. Kaizen- 


par 

lan 


berg ran the movie side of the 
company, including animation: 
dominated Disney s successful 
television production with hits 
like “Home Improvement," 
and. perhaps most important, 
had the sheer force of personal- 
ity to energize Disney's mer- 
chandising of products 
spawned by animated films. 

“The Lion King.” for exam- 
ple, is expected to earn $1 bil- 
lion worldwide, partly because 
of its merchandising and video 
success. 


Yet Mr. Katzenberg's record 
was not flawless. He oversaw 
dozens of movies in the last two 
years that were duds. There 
have been exceptions like “The 
Joy Luck Club" and “Quiz 
Show.” But other films like 
“Hocus Pocus” and “Life with 
Mikey" embarrassed Mr. 
Eisner. 

Moreover, Mr. Eisner has 
made it plain that he saw Mr. 
Katzenberg’s efforts to rise 
within the company as too ag- 
gressive. Mr. Eisner believed 


that the studio chief had made a 
mistake in not only taking over 
animation from Roy E. Disney, 
the vice chairman of the compa- 
ny and nephew of the founder, 
but brushing him aside. 

In fact. Mr. Eisner’s dissatis- 


aggressive style is among the 
roots of their rifL Others in- 
clude Mr. Eisner’s unhappiness 
with the studio's nonanimated 
films and the sense that his pro- 
tege was crowding him. 

Mr. Eisner has denied that 
the departure of Mr. Katzen- 
berg, 43, came about because 
Mr. Eisner viewed Mr. Katzen- 
berg as a threat. Instead. Mr. 
Eisner has told friends, the 


NYSE 

FMctay'* Closing 

Tabtes Indude the nationwide prices up to 
the closing on Watt Street and do not reflect 
late trades eteewbere. Via The Associated Press 


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growth of the company during 
the last 1 0 years required him to 
decentralize the organization. 

■ Showdown in Virginia 

Opponents of a Walt Disney 
Co. theme park in Virginia, 
which gained two important ap- 
provals this week, vowed 10 at- 
tack the project 00 new fronts, 
Lhe Washington Post reported. 

Approval on Wednesday 
from area road planners and 
Prince William County, Viri- 
gina planning commissioners 
for the $650 million park and its 
supporting freeway projects 
constituted a major victory. 
Disney executives and county 
officials said Thursday. 


3 


Ha 


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’■Jl * 






r is 

r si 


Don't miss the upcoming 
Sponsored Section on 

Microelectronics 
in Europe 

in the September 26th 
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INTER NATIONAL 


KMBa»«n-« w* Mk nn»niw»Mn< wi 


Continued from Page 9 

primarily be financed by higher 
Laxes." said Jeffrey West, a se- 
nior economist at the IDEA 
market research firm in Lon- 
don. 

Goldman. Sachs & Co. econ- 
omists warned of “potential 
detrimental impacts of such a 
combination on budgei deficits 
and bond yields." 

While markets worry about 
the policies of a grand coalition 
that would include the Social 
Democrats, their worst fear is 
that the ruling coalition could 
entirely exclude Mr. Kohl's 
Christian Democrats. 

“If Lhe SPD is a minority 
partner in any kind of govern- 
ment. 1 don’t see any change, 
because the big subjects of gov- 
ernment have to be done in ac- 
cordance with the Bundesrat, 
where the SPD holds the upper 
hand anyway.” Mr. Grandinger 
said, referring to the upper 
house of parliamenL 

A Social Democrat majority 
in the Bundestag, or lower 
house, on the other hand, would 
likely doom prospects for a de- 
regulation of shopping hours 
and a quick privatization of the 
German slate telecommunica- 
tions monopoly, among other 
reforms scheduled or already 
under way, he added. 

The Social Democratic Panv. 
which has strong union ties, has 
also campaigned for an ecologi- 
cal lax reform dreaded by Ger- 
man industry and said it would 
re-introduce" a recently discon- 
tinued subsidy to construction 
workers who stay home when it 
rains or grows cold. 

“The SPD is not interested in 
cutting subsidies.*’ said Fred Ir- 
win, chairman of the American 
Chamber of Commerce in Ger- 
many. "The CDLl told us their 
goal is to downsize govern- 


ment." a program popular \% 
business. “The SPD’s goal is i 
opposite" he said. 

Gerhard SchrOder, the So*. 
Democratic candidate for iv. 
nomics minister told the C. 
man newspaper Bild am So.. 
tag that cuts in subsidies to . 
German steel and shipbuild;. 
industries would be “inapp. 
priate.” 

Market concerns about a S 
dal Democratic govern nv-v.i 
fiscal responsibility have help . 
send bond yields soaring. 

Johahn Wilhelm Gaddu: 
vice president of the Bund*. 1 
bank said the next finance mi: 
is ter would have a more di:t 
cult time cutting spendinc . 
1995 than in 1994. The Bund, 
bank worries about German;, 
growing public debt no ira;:. 
which party is in power. 

A fundamental difference cl 
tween the two major parties : 
the speed with which tlw 
would be expected to imp., 
mem reforms. 

Mr. Irwin of the America 
Chamber of Commerce points 
out that the Christian Dcnu 
crats would address and implc 
meat economic reforms soon;, 
and more effectively than ti:< 
Social Democrats. 

Big business’s fear of the So- 
cial Democrats is matched by j 
growing unease among ordt 
nary Germans. 

Asked in a recent poll wheth- 
er they would rather buy a use-2 
car from Mr. Kohl or Mr. 
Schaipmg, ^ percent of those 
surveyed opted for the incum- 
bent and 31 percent for bi» 
challenger. 

“This test question migh: 
sound silly, but it's used around 
Lhe world and should be taken 
very seriously." the Wickert In- 
stitute, which conducted the poll 
among 3,373 registered voters 
last week, said in its summary. 


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>a e<3 12 



INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 24-25, 1994 


NASDAQ 

a Friday’s 4 p.m. 

I « complied by the AP. consists 0 MH» 1,000 
1 ■'graded securities in terms of dollar value, it is 
| updated twice a year. 


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INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUNDAY , SEPTEMBER 24-25, 1994 


Page 15 


ASIA/PACIFIC 


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Minerals a Tonic 
As BHP Profit 
Advances 18 % 


Compiled by Qur Sufl FrmDispaithB 

SYDNEY — Broken Hill 
Pty. said Friday that a sharp 
rise in minerals earnings helped 
to raise net profit 18 percent in 
the three months to Aug. 31. 

BHP , the biggest company in 
Australia, said net profit in its 
first qoaner jumped to 3125 
million Australian dollars (S274 
million) as all divisions lifted 
their contributions except ser- 
vice companies, where profits 
eased, and the corporate sector, 
where losses widened. 

The figure compared with net 
profit of 316.1 million dollars for 
the like period a year earlier. 

BHP said its minerals division 
contributed 227.4 million dollars 
aftertax profit, up 50 percent 
from the year-ago period 

BHP shares closed at 19.74 
dollars, down 14 cents, cm the 
Australian Stock Exchange be- 
cause investors expected a result 
closer to 400 milli on dollars. 

Profit was aided by a 9 per- 
cent increase in sales, to 4.39 
billion dollars. 

BHP also increased its first- 
half dividend to 24 cents a share 
from 21 percent “That’s a very 
strong signal It's going to be a 
good year,” said Tim Gerard, 
an analyst at Prudential Bache 
Securities. 

Analysts said the result put 
the company cm track to earn a 
record net profit of more fh* n 
1.5 billion dollars in the year to 
May 31, up almost 20 percent 
from 1993-94. 

The consolidation of the Ok 
Tedi copper mine in Papua New 
Guinea, rising copper prices and 


shipments because of the mine 
and mill expansion at the Escon- 
dida mine in Chile were major 
contributors to the profit, the 
company said. 

BHP said the steel sector’s 
profit of 139.5 million dollars, 
barely above the previous year, 
was marred by repairs and the 
recommissioning of a metal 
coating line at its New Zealand 
Operations and disruptions to 
coal production. 

But all of the Australian steel 
units recorded better results 
and domestic sales continue to 
increase, reaching a five-year 
high of 1.12 milli on metric tons 
for the quarter. 

It blamed reduced profit 
margins at its transport opera- 
tions and lower results from in- 
surance for a drop in profit by 
the service companies, to 10.9 
million dollars from 18.7 mil- 
lion dollars. 

Losses on intracompaoy 
transactions by BHFs treasury 
operations were the major fac- 
tor in a widening of the corpo- 
rate loss, which widened to 39.2 
million dollars from 15.9 mil- 
lion dollars. 

Profit from the petroleum di- 
vision rose 7 percent to 143.3 
million dollars, reflecting an 
improved contribution from 
BHFs Hawaii operations and 
increased sales volumes for 
most products. 

“The unproved result was 
achieved despite lower realized 
U-S. dollar oil prices and a 
higher Austrahan-U.S. dollar 
exchange rate,” the company 
said. (Bloomberg, Reuters, AFP) 


Vietnam 9 s Comecon Card 

Hanoi Revives East European Links 


R e turn 

HANOI — Despite a hefty debt burden 
and not much investment money in ibe bank. 
Vietnam and ex-Communist "countries of 
Eastern Europe are starting to forge new 
relationships on the back of old friendships. 

Vietnam remains Communist-ruled but is 
grafting a market economy onto its old com- 
mand system, and the new relations with 
Eastern Europe are not political. 

“These relations will be based on totally 
new foundations, mutual benefit and equali- 
ty,*’ said Nguyen Van Khieu. in charge of 
relations with Eastern Europe and ex-Soviet 
Central Asia at the Foreign Ministry. “It’s not 
the way it was before.” 

The Vietnamese say both sides have agreed 
not to let Hanoi's debts stand in the way. 

“The governments have agreed that the 
debt issue will not affect bilateral relations,” 
Mr. Khieu said. 

New links will be based on increased trade 
and, Hanoi hopes, investment flowing from 
the old East bloc into Vietn am 

Shipping, transport, construction, clothing 
and other tight industry, food processing and 
possibly petroleum exploration are some of 
the areas in which deals may emerge. 

Hanoi had close economic and political ties 
with Eastern Europe under the Comecon 
trade group, which was based in Moscow and 
now no longer exists. 

But the old friendships marked time after 
Communist regimes in Eastern Europe fell in 
1989 and 1990 and democratically elected 
governments look power. 

While these governments were finding their 
bearings, Vietnam was busy building up its 
links with non-Communist Asia and the West- 

Now, both sides are ready to revive rela- 
tions on the basis of old political capital 
which includes thousands of Vietnamese offi- 
cials and professionals trained in Budapest, 
Warsaw, Prague or Bucharest and 30,000 stu- 
dents, workers and traders still living iu East- 
ern Europe. 

Hanoi set the ball rollin g with a tour late 
last month by Deputy Prime Minister Tran 


Due Luong to Hunsaiy. Romania. Poland 
and the Czech and Slovak republics. 

It uncovered prospects for trade, which 
sagged to 550 million last year from $200 
million in the late 1980s. 

Mr. Luong signed agreements on invest- 
ment promotion and protection with Hunga- 
ry. Romania and Poland, on avoidance of 
double taxation with Hungary and Poland, 
and on trade with the Czech republic. 

“The importance of the visit was that we 
prepared a new legal foundation for new 
cooperation and relations in the future,” Mr. 
Khieu said. 

The problem of debt has dog g ed Vietnam’s 
relations with its former allies in Comecon. 
But the amount it owes the East European 

Thousands of Vietnamese 
officials were trained in 
Budapest,, Warsaw, Prague 
or Bucharest and 30,000 
Vietnamese still live in 
Eastern Europe. 

countries amounts to only about 5 percent of 
its debt to Moscow and looms less large in 
overall relationships. 

Vietnam owes Poland only S7 million to S 8 
million, for instance, Polish diplomats said. 

Since 1 992, Vietnam has serviced its debt to 
the East Europeans in kind, mainly coffee, 
rubber and other agricultural products. 

“In general the debt question is under con- 
sideration in a spirit of mutual understanding 
and friendship," Mr. Khieu said. With Hun- 
gary, for instance, plans are afoot for part of a 
debt incurred for construction of a light-bulb 
factory in Vietnam to be written off in ex- 
change for equity in the company. 

Lack of East European capital for invest- 
ment is a major problem in building a new 
economic relationship. The region counts for 
a tiny 0 J percent of the total $10 billion 
pledged in foreign investment to Vietnam 
since 1988. 


ASEAN 
Reports 
Free Trade 
Progress 

The Assocacsed Press 

CHIANG MAI. Thailand — 
Members of ASEAN made pro- 
gress toward creating a free- 
trade area on Friday but decided 
it was unnecessary to take a unit- 
ed stand in the larger Asia-Pacif- 
ic Economic Cooperation group. 

Economic ministers of the As- 
sociation of Southeast Asian Na- 
tions approved changes to has- 
ten and broaden the scope of the 
free-trade area their countries 
are trying to create. The ASEAN 
area has a domestic market of 
just under 340 million people 
with annual output of goods and 
services of S430 billion. 

The ministers endorsed a plan 
to reduce tariffs to near zero in 
ASEAN five years ahead of the 
original target date of 2008 and 
to begin broadening tile number 
of goods covered. 

They decided to include the 
highly protected category of ag- 
ricultural products and’ agreed 
to cooperate in transportation, 
communications and infra- 
structure development to en- 
hance trade among them. 

The ministers said at the end 
of a two-day meeting that they 
bad agreed to act independently 
within APEC, which includes 
major trading partners such as 
the United States. 

The decision indicated cracks 
in ASEAN — which groups Ind- 
onesia, Thailand. Malaysia. Sin- 
gapore, Brunei, and the Philipp- 
ines — despite vows by members 
to unite to strengthen their glob- 
al position. 


Thai Brokers Sell Themselves Short for a Chance to Be Banks 


Blocmberg Business News 

BANGKOK — Thai brokerage houses are 
selling hundreds of milli ons of dollars worth of 
shares to their current stockholders at far less 
than their market value in an effort to meet 
capital requirements to qualify for commercial 
banking lisceoses. Analysts . said Friday this 
trend could shake up both the stock market and 
the financial industry. 

In the past six weeks, four of Thailand's five 
largest nonbank financial conglomerates have 
announced deep-discount equity sales. 

Combined, the sales will raise more than 15 
billion baht ($601 million). The new stock is 
being offered at one-thirtieth, one-fortieth, even 
one-one hundredth of the market price. 

“Thai investors take these deep discount sales 


for granted,” said Gerard Kruiihof, research 
manager for Peregrine Nilhi Finance & Securi- 
ties Pic. “In Europe, rights issues are usually 
negative indicators about a company.” 

In the case of the Thai finance companies — 
Finance One PLC, Pbatra Thanakit Co., Nation- 
al Finance & Securities PLC and Dhana Siam 
Finance &. Securities Co. — there is no sign any 
of them is in trouble. Each posted record earn- 
ings the first half of the year. 

The central bank has said that within two 
years, it will issue about five new commercial 
banking licenses to domestic finance companies. 
To qualify, the companies must meet the tenta- 
tive qualification of 2-5 billion baht worth of 
registered capital, a requirement that could be 
raised to 5 billion baht. The companies must also 


split their finance and securities divisions into 
separate companies to qualify. 

The main attraction of being a commercial 
bank is the ability to lake deposits, something 
that finance companies can not do. That can be a 
big advantage in funding operations. But the 
huge capital increases will absorb a lot of money 
from the rest of the stock market, which has ah 
average daily turnover of about 10 billion baht. 

“That money has to come from somewhere.” 
Mr. Kruiihof, of Peregrine Nithi Finance & 
Securities PLC. “Meaning from other stocks, in 
some cases." 

The flood of rights issues is nothing surprising 
for anyone who has followed the gradual liberal- 
ization of Thailand's financial industry, said 


Asoke Wongcha-um, executive vice president of 
Phatra Thanakit Co. 

“Finance and securities companies can use the 
new money for business expansion, while putting 
their balance sheets in place for the transition to 
commercial banks.” he said. 

Phatra Thanakit was the first major brokerage 
and lending conglomerate to announce its pljns. 
Beginning Sept. 26. shareholders will be able to 
buy four shares for every one they own. each for 
10’bahL Phatra Thanakit shares arc trading at 
about 1 100 baht each. 

Mr. Asoke said the sale is “basically fair to 
everybody because existing shareholders will 
maintain pretty much the same percentage of 
ownership.” 


Investor’s Asia 


Hong Kong 
Hang Seng 

nra 


Singapore 

Straits Times 


Tokyo 

Nikkei 225 


iS33 


»w 


I-/ 1 


SE3 







JA S 

■ w * AMJJAS MJ 

1994 1994 

J A S 

1MW A M J 
19S4 

Exctiango 

Index 

Friday 

Close 

Prev 

Close 

Change 

Hong Kong 

Hang Seng 

9,632.47 

9.566.14 

■0.37 

Singapore 

Straits Times 

2,302.05 

2286.0S 

+0.70 

Sydney 

All Ordinaries 

2,027.70 

2.028J20 

- 0.02 

Tokyo 

Nikkei 225 

Closed 

19.833.67 

- 

Kuala Lumpur Composite 

1,170.32 

1.179 33 

-0.81 

Bangkok 

SET 

1,506^6 

1.531.43 

-1 66 

Seoul 

Composite Stock 

1,030.99 

1,034.01 

■0JZ9 

Taipei 

Weighted Price 

6,93028 

6,869 83 

+0 59 

Manila 

PSE 

2,959.36 

2,334.36 

+0.85 

Jakarta 

Stock Index 

512^7 

513.16 

-O .11 

New Zealand 

NZSE-40 

2,080.53 

2.066 43 

+0 68 

Bombay 

National Index 

2,122.33 

2.114.83 

+0.35 


Sources: Reuters, AFP 


Very briefly: 


• Shanghai class B shares, which are reserved for foreign investors, 
weakened 0.8 percent Friday on concern that China's economy 
was taking a turn for the worse because of a 50 percent jump ir. 
bank loans in August. 

• China sentenced Guan Weiguo, the former chief regulator of 
securities in the northeast China city of Shenyang, to six years in 
prison for taking bribes. 

• China and Poland signed cooperative agreements in the con- 
struction and chemical sectors during a visit by Prime Minister r 
Waldemar Pawiak of Poland. 

• Guangdong Investment's net profit for the six months to June 30 
rose 40 percent, to 139.8 million Hong Kong dollars ($18 million!, 
helped by a 47 percent increase in sales at the holding company, to 
1.27 billion dollars. 

• Thailand's Economic and Social Development Board said the 

country's economy would expand by 8.4 percent this year, sur- 
passing its previous projection because of rising exports and 
private investment. BhvmSrn;. aP. afp. Rnnm 


Philippine Investigation 


Agence France Prase 

MANILA — The Philip- 
pines Securities and Ex- 
change Commission said Fri- 
day it would seek help from 
Malaysia’s stock-market reg- 
ulator to investigate alleged 
insider-trading by companies 
involved in a deal with Gand- 
a Holdings Bhd. of Malaysia. 

The Philippine regulator 
is looking into possible vio- 
lations by Philippine Realty 
& Holdings Corp. and Inter- 
port Resources Corp.. along 
with the Philippine Racing 


Club Inc. The companies' 
stock prices inexplicably 
rose in July and AugusL 

Ganda Holdings acquired 
a substantial stake in Inter- 
port last month in a stock 
swap. 

The Malaysian company 
also joined with Phil realty in 
August to buy a 67 percent 
stake in Racing Cluh. 

The Philippine Slock Ex- 
change subsequently sus- 
pended trading in Interport 
for two days, while Phil- 
realty voluntarily suspend 
trading of its shares. 


Mu i* 
via 


INTERNATIONAL CLASSIFIED 


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For sde fi4y funihed. 

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■ rax (33-1) 47^25.09 


GREAT BRITAIN 


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TO RENT/SHARE 


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ITALY 


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sodd privWws endjeek) to MARJTT on irtemctanol coleogue. K&MAL APPU- inwiriog wwrwv ndepefwant wxl 

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1 ie«,^— — For responsible people — - 


A LADY OF MY DREAMS 
errt Companion lor Life. Omnwn 
Uamesron. faewfant/CcO of LG 
Company, is seeling a becunfU, car- 
11 ^. ipmaitic compraiian far life, era 
with a burning desire la low raid be 
loved. Prefer American/Europecm, 
abort 3W0, etfvcal. with exallert 
bvsnefl and wool sLIb. and wilfag to 
travel worldwide Ira _ butineu and 
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bcrAgravnd. m, tounopohian. 
refined, respowblf and successful m 
fasmeft Please wnfe in fan confi- 
dence, preferably with photograph to. 
P.O. Box 3704. South Bend. fJ 46617- 
37Q4 USA. AU replies will be 
octapwledaed 


A CHARMING GERMAN 
WITH CLASS 

36, l 67. oeeve hyunes? Mttoi, 
tuCtnsfrt, loves cuhure and 
spans oOrv^ies She is loatag far 
the ng hi partner to 
shore are® aspects cf Efe 
bmea on lewa and iron. 

Seri- to 36W. I.H.T.. Fnedrtoar. 15. 
D -60323 FrraiJwr.’Man. Germcny 


1 SUCCSSSWL SNGkE, w. heohhy. 

generous ofat busmesman wih jense 

of hranew, <3. seeks lady 15-33 
render romonht verj )tm. pretty 
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He ra<d frequent long (fatra»j rank 
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fathiort. Wnte with photos to Box 2SJ. 
IHT, 63 Long Aero, London, WGr 
9JH 

UAUTmJL GENTLE, SMRTUM 
woman, 3$ 52 , Amencjn, tangud 
(some hafanj, jfen, fensmne. romaitie, 
stable, hoping far a refined, oft- 
voted efhfad mat to share harman. 
ous bfa. fame to anwt if sent 
note, phrto & phone. Eady Ban 3716, 
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mt of femora, km 40's, breed near 
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lasting rdetionshp. Please send recent 
photo. Reply to Box No. 3719, IH.T, 
9252! Newly Cedex. France. 

TAIL CJUiaa VUE ad success- 
ful Bon viian fScorrinovax London 
based] void to meet eleanl, 

iweleourt, crived end beartWlody 
09-49J to ihrae the good Itwigi of 
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hravtcnp tat pat of the pbawr& 
Wine in stneea coididenee endeeing 
photo to Bax 3517, LH.T, 63 Long 
Aar. London, WC2E 9JH 

SMCBS AMBBCAN MALE, ora 43 
m Boesak from November Ita 13 
month). Would He to meet women 
far friendftpL possible rekAonshf). 
Interested » tunel. norure. cukure. 
Wrae Be* 5414. IJLT, 850 Tfed A*, 
fth Ft NY, NY 10022 U5A 

BJKJFSAN MARRIAGE BUREAU 

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to 34-1-55599.57 / 3OI40J2. 
WcneOMM 24 Ln, Y* 34-1-355 » 76. 

ASIAN IAMB seek manage. Ewbfa 
KEBREAKB5 545 Orahorsr Rd. 10413 
FraEraShcpcogCfr. SftwpareU93 
Tel 65-733874§Fct, 235 V3i 


WTHETWG DK33SHMAN 51. seeks 
dynamic mature Ui ledy. Contaa; 
Mr W. Green la Colton Ane. London 
SB1 70s 081 299 6037 


SOULMATE (The fcgrt Gwa] Exctawe 
agency t off twiners. Please wrt* to: 
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jwert St. London W1E BQD fag land 


AMERICAN SINGLES Seeking 

romgncfrmranoge. Brochure- Bte In- 

taL 2554 brain. “112. HUM. CA 
90291 USA FAX. 3ID-301-241S 


BETTY RUSSIAN WOM24 seek m- 

noge wnh Europerar mert 1994 dub 

fee: 560 Detrain CONCOTOIA. {MTlj. 
BP 60. 69630 QiAfONOST. FBaAICE. 


/PRETTY FRB401 Woman V yeott. 
bonne educnhon-rofinfe dtare re- 
ncomer Momeix nt* Iraiute tfa- 
nroue humour 4H5 32-2-675 44 71 


rajNG SINGLE WORLDWIDE seek 
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PLANNING TO RUN 
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EUROPE 

FRANCE Mb ton. 

TeL (1144 37 9385. 

Fa. 11)46379370 

GBMANY. AUSTRIA & CEN1RAL 
EUROri; FrorAfijrt. 


NORTH AMERICA 


NEWYORlC: 

Tel Cia 75233*0 
Tolkn K0CA57 7312 
Telex. 427 175 
Fox. [2121755 8785 


Tel 10691726755 
to 109)7273 10. 

ASIA/PACWC 

5YWJZSBAND: fady. 

Td (021)72830 21 
fw (021) 728 3)91. 

HONGKONG: 

Tel 185219232-1188 
Trie- ol 170 HTWt 


to 18521 9331- ll<0 


Ut«ITS> XV4GDOM: fardon. 
Id- 1071) B36 4802. 
TeAsc26M09. 
to 1071] 2402254 


SNGAPORt 
Td 23MTB 
to [o51 224 1 5 60 
Td ex 28/49 IHT &N 


OO 


SOUM) 

INDfVTDliAL 

CONFIDENTIAL 


Edith Brigitia 
Fahrenkrog 

KTERNATKKAL rARTNERSfflP-ACE*CY 
GERMANY - FRANKFURT / MATS 

SxY to a rAUTM-Rsim*. 

MATCHJM 3 THE RKilfT PARTNERS U 
MY BUSttaSS. PERSONAL INDNTWAL 
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PLEASE CALL: Q> GERMAN!* 49-171 -315 52 52 a* +49. fit. 43 1971 


































































































INTERNATIONAL 


T H .-Jfc 





©ribunc 


:-4c'. 


September 24-25, 1994 
Page 15 




B- ly- o-^y-t' 




• • ' 


; FIRST COLUMN = 

A Worry 
That Wakes 
People Up 

I T IS ONE of those worries tha t 
e\’exy now and then, tends to rear its 
head at about 3 o'clock in the morn- 
ing. It works its way up from the 
depths of the subconscious unUI it forces 
you to open your eyes, stare at the ceiling, 
qnd look it squarely in the eye. 

• It prefers to wait until its prey has had 
S * least 40 birthdays. And when it strikes, 
it can send chills up the spine. 

. It is not the fear of growing old. It is the 
fear of growing old and having no money. 

This week’s report on pension funds, 
which analyzes the topic of retirement 
income from a variety of perspectives, 
droears at a time when the subject of 
shrinking resources — both financial and 
Environmental — has commanded the 
world's attention. The International Con- 
ference on Population and Development, 
for example, held earlier this month in 
Cairo, reaffirmed that overpopulation is a 
crisis that threatens the well-being of not 
jiist those in developing countries, where 
upward population growth curves remain 
Steep, but of everyone. 

.■ Less discussed in Cairo, and a topic 
■covered in this report, is a crisis of a 
slightly different nature, one expected to 
hit hardest at industrialized countries. It 
concerns the percentage of the world’s 
population that will be coming into retire- 
ment age in the next century. 

A fundamental problem for OECD 
countries, most of which currently have 
declining birth rales, is that there will be 
more and more people taking money out of 
Coiporate pension funds and national so- 
cial-security systems, and fewer and fewer 
people putting money in. Many developed 
nations have recognized the brewing trou- 
ble, but anything resembling a solution has 
thus far been hard to come by. 

Investors, therefore, might be wise to 
take the prudent path: Start sa ving for 
retirement as early as possible; and don’t 
.count on national social-security plans 
-that might not always be there. 

. Waking up to these realities might help 
you sleep a little better. 

P.C. 


Not-So-Stodgy Pension Funds Catch Up With the ‘Going Global’ Times 


By Iain Je nkins 

RE PENSION FUNDS looking 

after your retirement property? 

Will you be able to buy that 

house in the country you've 
dreamed about? What about those holi- 
days? 

Much depends on the way pension 
funds allocate your assets. And in this 
area of investing, a quiet revolution is 
taking place. 

Ten years ago, most pensioners were 
being paid from the profits of domestic 
investments in bonds and, to some extent, 
in equities. Today, global pension funds 
are increasingly looking to international 
equity investments, especially those in 
emerging and offshore markets. 

The sums involved are enormous. Since 
1991, UJL pensions funds alone have dou- 
bled their exposure to overseas investment 
to 8 percent. And the trend appears set to 
continue. Greenwich Associates, a Con- 
necticut-based investment consultancy, 
forecasts that foreign assets in U.S. pen- 
sion funds will reach 12 percent within 
two and a half years. 

“There has been a big drive into inter- 
national assets,” said Rodger Smith, a 
partner at Greenwich Associates. “U.S. 
pension funds could eventually finish up 
with between 20 and 25 percent overseas. 
And equities, including domestic ones, 
could make up 70 percent of their assets.” 

What makes these chang es so signifi- 
cant? Only twenty years ago, for example, 
most U.S. pension funds had their assets 
split fairly evenly between U.S. bonds and 
equities. Now, say observers, as much as 
$30 billion annually could flow from U.S. 
pension funds into foreign stocks. 

In many other countries, the scale of the 
shift in assets is even more remarkable. In 
Holland, Switzerland and Germany, for 
example, pension funds have traditionally 
focused on domestic bonds. Now, they are 
joining the rush overseas. Dutch pension 
funds invested IS percent of their assets 
outside Holland last year. 

Gunter Ecklebe, director of interna- 
tional asset consulting at Fr ank Russell 
Co., a U.S. actuarial firm, said that the 
trend is toward a gradual internationaliza- 
tion of assets. “We already have clients 
with over 15 percent overseas.’* he said. 
“And for some, we expect that to increase 
to 20 percent by the end of the century. 
Some clients are even looking at going as 
high as 30 percent.'' 

One key to understanding the drive into 
overseas equities, say observers, is that. 


Pension Fund Management 


Page 17 

A renaissance for IRAs 
Doomsday demographics ? 
A U.S. battle for business 
New regulation in the U.K. 



historically, equities have performed bet- 
ter than bonds. According to Chicago- 
based Ibboison Associates, long-term 
U.S. government bonds earned a com- 
pound annual return of 5.02 percent be- 
tween 1925 and 1993, while large-cap eq- 
uities returned 10.33 percent and small - 
cap equities returned 12.36 percent. 

The long-term dominance of equities 
was a trend that U.K. pension funds dis- 
covered in the 1960s, when Britain was 
dealing with an annual inflation rate of 
over 25 percent. Today, the British pen- 
sion industry, the third largest in the 
world with assets of $814 billion, has 80 
percent of its assets in equities. Moreover. 
28 percent of British pension-fund capital 
is invested outside Bri tain 

Gordon Bagot, research director at the 
Edinburgh-based pension consultancy 
WM Company, said: "Equities have al- 
ways delivered far better returns. In the 
60s and 70s they were the only thing that 
gave any protection against a British infla- 
tion rate of 25 percent. U ,S. pension funds 
didn’t have the same inflation worries.” 

Some analysts feel that the reasons for 
the push into overseas and offshore mar , 
kets are more complex. “Greed, or the 
search for higher returns overseas, is im- 
portant,” said David B ocher, mana gin g 
director of global research at InterSec Re- 
search Corp., a U.S. pension consultancy. 
“But it is not the only reason for the 
internationalization of the U.S. pension 
industry. They are also hoping to reduce 
their risk.” 

Indeed, while emerging- and offshore- 
market investing might strike some as in- 
herently risky, the Nobel Prize-winning 
economists Harry Markowitz and Bin 
Sharpe have argued that by investing in 
asset classes that behave differently from 
each other — no matter what or where 
they are — risk can be reduced. 

A simplistic but graphic example is the 
behavior of different groups of assets after 
the post-World War 13 oil- price shocks. 
Equities plunged but anyone owning gold 
or oil assets made out well. In a somewhat 
similar way. pension funds hope that by 


For Expatriates, a Barrage of Barriers 


By Jack Anderson 


Tf ; 


E xpatriate executives 

might look at global retirement 
pension tables and wonder if 
they should start migrating to- 
wards Italy and Sweden rather than to- 
ward Venezuela, Taiwan or Korea, where 
there is no mandatory social security, sav- 
* ings or insurance system. 

; Of course, some "countries face extreme 
financial pressure due to their generous 
-retirement benefits, which are prompting 
-discussions of private pension alterna- 
_tives. 

-■ However, as most expatriates realize, all 
home and host countries with generous 
government or private benefits have creat- 
ed barriers of entry to full participation in 
retirement benefit programs, except for 
ihe stay-at-home executive. 

“The significant problem for expatri- 
ates is that these barriers result in the 
' expatriate executive coming to the end of 
' fads career," said Frank Burke, human re- 
• sources director of Biogen Inc, the U.S. 

'biotechnology firm. “All the pieces of his 
pension from the several countries he has 
.worked in do not even equal the pensio n 
-bf bis colleague who never left company 
headquarters." 

I- Furthermore, such an expatriate pen- 
sion would be in several currencies, with 
eac h separate pension subject to various 
jand conflicting host country laws. Indeed, 

'most expatriates lose twice: in the home 
- country, as well as in the host country, and 
that is challen gin g the mobility of execu- 
tives. 

•' For example, an expatriate who, with- 
out planning, worked for 9 years with a 
U5. employer, then 9 years with a French 
employer, and finally 19 years in Asia for 
‘a Japanese employer, would receive no 
, public retirement pension from these 3 

countries. . 

.} The barriers to these countries public 
■ retirement pension systems involve mim- 
! mum periods of local employment, man- 
datory periods of local employment for a 
f uD pension (40 years in France, 50 years 
rin the U.K, and at least 35 years in Japan), 
and limitations on the individual and cor- 
iporate tax deductibility of private contri- 
bution payments for expatriate execu- 
tives. 

-■ Of course, there have been attempts to 
-.eliminate these barriers, but they have 
.’generally only been effective for short- 
•term (five year or less) expatriate assign- 
ments. . . 

Bui even if the assignment is short-term 
■and measures were applied to help make 
the expatriate's pension whole, many new 
expatriate assignments place Americans 
'-and Europeans in Asia, which has few 
treaties on social security with the West. 

For example, Japan has no social-secu- 
rity tax treaties and neither does Korea. 

'•U.S. expatriates in Japan must make so- 
_dal- security contributions, along with 
their employer, to a Japanese system mat 
will give them no benefits, unless they 
work more than 20 years in Japan. There 
are similar conditions for Japanese execu- 
; tives working in the States. 

* According to Bill Church of Ernst & 

Young in Tokyo: “In the case of the 

Japanese expatriate in the U.S. he will Source: Towers Perm 


receive no U.S. retirement benefit unless 
he works more than 10 years in the U.S. 
And he will see his full Japanese social 
security pension, which is as much as 
$52,000 a year — compared to a maxi- 
mum social security benefit in the United 
States of $21,000 — decrease due to his 
expatriate assignment” 

Again, due to the lack of a social-securi- 
ty treaty and inappropriate conditions in 
the income tax treaty, any voluntary con- 
tributions to the Japanese social-security 
system are additional taxable income in 
the States. And current company practices 
designed to meet these problems can cre- 
ate additional tax problems. 

The lack of incentive to negotiate a 
social-security treaty is more understand- 
able, from a Western point of view, in the 
case of Korea, which has no mandatory 
social-security system for natioanls or ex- 
patriates. Bat not from the Korean expa- 
triate executive’s point of view who, for 
example, on an expatriate assignment to 
France, must pay into the French social- 
security system along with his employer. 

But he will receive no retirement bene- 
fits from the French system unless be is in 
France for ten or more years (although he 
would receive medical and some other 
benefits). In the meantime, he has less 
after-tax income to provide for his private 
and only retirement income, and his com- 
pany also has substantially less after-tax 
income to help him. 

Furthermore, if his company tries to 
help him while he is in France, the French 
income- and social-tax authorities may 
demand additional income and employee 
and employer social-security taxes of up 
to 120 percent of the annual amount of the 
private contribution. And that is before 
the expatriate “gross-up” tax, which can 
triple this cosL 

Conditions such as these will continue 



to exist unless new agreements can be 
struck between nations that have an ex- 
change of expatriate executives. 

One might think that the profusion of 
U.S. treaties with Western countries has 
solved problems and guaranteed mobility 
for expatriates in the West. Unfortunate- 
ly, that is not the case. 

AH of these treaties, directives, agree- 
ments and regulations rely on four key 
assumptions which, if not truly pan of the 
picture, make the paper they are written 
on worthless to the protection of the expa- 
triate executive. If a single one of these 
assumptions is not met,the special rules to 
protect an expatriate retirement generally 
do not apply: 

• The first condition is that the expatri- 
ate's employer is astute enough to know 
that he has a retirement problem to re- 
solve in order to secure the mobility of his 
expatriates. According to Edith Ringen- 
bach, a human-resources consultant based 
in Brussels, “Many of the new expatriates 
are not from the downsizing. Fortune 500 
companies, but from new multinationals 
which are putting their first expatriates on 
the global highway. And the company and 
the executive may not be aware of the 
sophisticated attempts to protect expatri- 
ates and they may stumble into the traps.” 

• The second assumption is that the 
expatriate is “seconded" or “detached" 
from the home country to the host coun- 
try, and not “expatriated" to the host 
country. This is a question of legal jargon 
as well as of substance. If the executive 
does not maintain his links with the com- 
pany in the home country and his assign- 
ment agreement is not carefully written, 
he may not benefit from the efforts de- 
signed to help him. This may have a nega- 
tive imp an on home country social securi- 
ty and pnvate-pension plans, as well as on 
increasing costs for the employee and the 
employer. 

• The third and increasingly inappro- 
priate assumption is that the expatriate 
executive is only on a short-term assign- 
ment for 2 to 5 years. Sean Dior, finance 
director of Slim-Fast Europe, the diet 
products company, states: “Many of the 
over 260,000 EU expatriates do not fit 
into this assumption according to a recent 
survey of EU executive mobility. Al- 
though cost efficiency may dictate a re- 
turn to home base after 3 years, many 
assignments continue with the prior suc- 
cess breeding new challenges that only the 
experienced expatriate can solve.” 

• The fourth assumption is that there is 
a “home country employer.” There mav 
have been one when the assignment be- 
gan, but perhaps another employment op- 
portunity has been found in the host coun- 
try. In such a case, even if the new 
employer is a multinational from the same 
country of origin, the paper designed to 
protect the wandering expatriate would be 
inapplicable. More frequently today, the 
initial job offer is for a local hire in the 
host country. Here again, there is no 
home-country employer and no applica- 
ble agreement. 

JACK ANDERSON is a tax and legal 
Parmer in the Paris office of Ernst & 
Young. 


investing overseas they can reduce the 
risks of domestic setbacks. 

Ironically, some pioneers of British 
pension-fund equity investment are mov- 
ing out of equities. Andrew Wilson of the 
London-based actuarial firm Watsons 
said that in the United Kingdom, “there 
will be a gradual switch from equity to 
fixed-income over the next 10 years.” 

Mr. Wilson’s view is partly due, he said, 
to a feeling that equities can’t repeat their 
performance of the past 10 years. It is also 
due, he added, to the mature structure of 
the British [tension fund industry and to 
regulatory changes that are persuading 
managers to take fewer risks. 

But Mr. Ecklebe at Frank Russell Co. 
took a more sanguine view on the idea of 
di m i nish i n g risk with global equities, spe- 
cifically in regard to U.S. investors. 
"There is always the risk that in the short- 
term you might have got the liming 
wrong," he said. “But in die long run, we 
believe that by investing in a basket of 
securities that move independently from 
the U.S. market, you have an aggregate 
reduction in risk.” 

Some analysts say that the rush over- 
seas is likely to become a “virtuous circle," 
particularly in the emerging markets. In 
other words, attempts by major U.S. pen- 
sion fund groups to buy significant hold- 
ings in some markets have the potential to 
drive up prices in general. 

Such possibilities, many add, combined 
with the high economic growth rates fore- 
cast for most developing nations, mean 
that emerging markets should outperform 
developed markets over the next decade. 


Global Pension Funds 

i Pension fund assets in billions of dollars. 

I Pension fund assets 

% Invested abroad 


1988 

1993 

1998 est. 

1988 

1993 

1998 ex. 

United States 

$2,085.0 

$3,650 

S5, 470.0 

3.0 

7.2 

11.5 

: Japan 

522.0 

1.022 

1.600.0 

6.3 

9.0 

12.0 

• Britain 

456.0 

814 

1.050.0 

18.7 

28.0 

28.0 

■ Canada 

145.0 

350 

350.0 

6.1 

10.3 

16.0 

; Netherlands 

176.0 

245 

340.0 

9.5 

15.2 

21.1 

• Switzerland 

129.0 

201 

310.0 

4.0 

8.6 

11.6 

] Germany 

75.0 

118 

165.0 

3.8 

4.5 

5.T 

! Australia 

44.0 

80 

145.0 

9.8 

15.4 

19.4 

• Sweden 

54.0 

78 

120.0 

- 

1.1 

6.0 

: Denmark 

27.8 

52 

85.0 

0.4 

5.7 

8.7 

: France 

16.0 

44 

60.0 

1.0 

3.5 

6.0 

! Hong Kong 

7.0 

23 

67.0 

62.1 

56.5 

61.1 

j Ireland 

8.0 

15 

23.0 

23.0 

30.0 

30.0 

j Belgium 

5.3 

9 

15.0 

29.0 

33.0 

35.0 

• Norway 

3.7 

6 

8.3 

— 

— 

2.5 

; Res! of the World 

125.0 

250 

303.0 

5.3 

8.2 

12.2 

Total 

3,880.8 

6,857 

9,808.5 



1 

1 Scarce: Sec Pose jrcJt 

Corp. 







What Do Fund Trackers Pick for Their Own Pensions? 


I T is the business of fund-rating 
concerns such as Chicago-based 
Mornings tar and London- based 
Micropal to know which funds are 
performing well, which are not, and why. 
These companies and the people who run 
them, moreover, have corporate and per- 
sonal pension plans of their own. 

Thus, a question that might pique the 
curiosity of many investors is the follow- 
ing: Which funds are the fund-raters 
themselves investing in? 

Among the funds in Morningstar’s 
employee-pension plan, says Morning- 
star Mutual Funds publisher Don Phil- 
lips, are the Vanguard Money Market 


fund, for cash holdings, and T. Rowe 
Price’s New Income bond fund. The 
Lindner Dividend fund is for more con- 
sent live income investors. Mr. P hilli ps 
said, while Fidelity's Disciplined Equity 
fund is an equity-index vehicle. 

He added that Vanguard’s World-In- 
ternational Portfolio offers international 
exposure, while the Gabelli Asset fund is 
a value play. The Selected American 
Shares fund, the PBHG Growth Fund, 
and Fidelity's Low-Price Stock Fund are 
also part of Momingstar’s stable. 

On the other side of the Atlantic, Mi- 
cropal chairman Chis Poll said he keeps 
his personal retirement money almost 


exclusively in mutual funds and unit 
trusts. About 10 percent is invested in 
European funds such as Mcrcurv's Euro- 
pean Privatization fund and "Baring’s 
Emerging Europe fund. 

Wmle he also favors broad-based 
global plays like Templeton's Global 
Strategy fund, Mr. Poll said that about 
15 percent of his retirement money is in 
regional funds such as hazard's' Latin 
America funds and Fleming’s Far East 
fund. Slightly less is held in countrv- 
specific funds, including Genesis's Chile 
fund and Jardine Fleming's India fund. 

— Bale Netzer 


Well cover you from as little 

as £8* a week. 



Ta, 


ake a look at the average medical costs * " for 
these common ailments and then tell us you can't 
afford PPP medical insurance. 

£250,000 ANNUAL COVER 
FOR AS LITTLE AS £8* A WEEK 

That's right, for as little as £8* a week we ll cover 
you for medical costs up to an annual maximum 
of £250,000. 

And provide the peace of mind that is essentia! if 
you are living, working or travelling in a counirv 
where medical facilities may be inadequate and 
private medical treatment prohibitively expensive. 

Private Patients Plan tPPP) is one or the UK's 
leading medical insurance companies with over 
2 million members. 

PPP's International Division specialises in medical 
insurance for people working or living overseas.Its 
International Health Plan offers a wide range of 
options for different needs and budgets, with annual 
cover up to £500.000. 


For immediate cover cal! anytime day or night. 

44 ( 0 ) 892 503311 


Send to: PPP International, 

PriPlan House, Tonbridge Wells, Kent, TNI 2PL, England. 
Or fax to: 44 (0) 892 503329. 


PPP International 

International Healthcare Finance 


’BdjfJ pr Standard Option. .1rtu J. Eurcpr fnrhiding UK Azc Sff.J-t tain 

*'&>urce Hi is mfomaUm is Kurd an /hr urerjgr onu pajJ b\ PPP mfrt 
ftirrmiUlondl Hratifr Plan b rrwrm //l/SC and pjwculor 

eotatinet The vahif of iht claims have feat contort J imu pfliind. -irWinjJor the 
purpose ej corulsiaick 

The exchange rates used were ifesr prexmluig oi Lhr rune rfe claim war yuid 


YES! I would like to know more about the PPP International 
Health Plan. Please send me further details. □ 

TITLE: MrO MnsD MissD MsD Dr.D Other. 

SURNAME: 


FORENAME: 


ADDRESS. 


COUNTRY: 


TEL NO: 


FAX NO- 


CURRENT SCHEME: 


RENEWAL DATE: 


PP» Imi-maiioiul Health PI in is specifically denned for r*painu« 

Non- cxpjinaics mav apply subject 10 any applicable ge-vcminj; law* or t 
•uu-hangi- control regulations. c 

24-9-94 










Page 16 


INTERNATIONAL HERALD TRIBUNE, SATURDAY -SUN DAY . SEPTEMBER 24-25, 1994 




advertisement 

INTERNATIONAL FUNDS 

QuotMtowi tup pltod by Hindi tell, rt transmitted by MlCSOPAi PA BlS(Tri . »-f 40 2S P9 09). 
Not am reto. quotatfm are mM by If* Fund. Gsted with OmmxcWOaa .erf: wnw 9»t w bawdon 
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Sept. 23, 1994 


regularly; (t) ■ twk* VreoWyi (») - r Monthly. 




ERMtTAGE LUX (332487338) 
w Erm lose inter Rare Slrot -DM 

w Erm ton Sal* Fund S 

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■v Erm toga Euro Hedge Fd— DM 
w Erm tain Crosby Asia Fd_ S 
iv Erm toge Artier Kdg Fd 

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EURO PA FUNDS LIMITED 
tf American Eauity Fund 
0 American Out Ian Fund 
nr Aston Scully Fd. 
nrEunxmm foully 
EVEREST CAPITAL (W91 293 MM 

m Everest Capital imi Ltd s 115.77 

FIDELITY I NTT. INV.5ERVICE5 (LmcJ 

d Dtsawery Fund s TOM 

d Far East Fund j S549 

d Ftd. Aitwr. Assets s iwjs 

0 fto. Amer. vwvei iv s 11057200 

0 F rentier Fund s 37 7B 

0 Globed Ind Fund i 19.12 

0 Global Selection Fund _J 73A? 

0 New Eurooe Fund s U.3 

0 Orienl Fund— 1 1J7.IB 

_ Saedal Growth Fund S «J3 

0 World Fund S 118.9 3 

FINMANAOEMSNT SA-LB 90 tie [115172393151 

w Del to Premium Carp 1 151200 

POKU5 BANK AS. 47*428 5» 

mn Growth Fd-S 0«B 

a COLONIAL EMERG MKTS LTD 

Tel: London 071 628 1ZM 
d Argentinian Invest Co SlcavS 

tf Brazil Urn Invest Co S<av S 

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0 Indian invest Co Stow s 

a Latin Amer Extra Yield FdS 
0 Latin America income Ca_S 

0 Latin American invest Co $ 

0 Mexlctm Invest Co Stonv t 

iv Peruvian invest Co Sieav I 

FUND MARKETING GROUP (BID) 

P.Q. Box 2001, Hamilton. Bermuda 
m FMG Global PI Augj_ 
mFMG N. Amer. 131 Aug) 
mFMG Eurooe (31 Aug) _ 
mFMGEMGMKT (31 Aug]_S 

mFMG a (31 Aug) 

mFMG Fixed 131 Aug) 

FX CONCEPTS (BERMUDA) 
vr Concept, Forex Funn. 

GAIA CURRENCY FUNDS 


w Gala Swiss Franc F 

W GAIA Fx 

m Gala Guaranteed CL I 
mGcki Guaranteed CL II 


GARTMORE INDOSUEZ FUNDS 22/09/94 
Td : [3521 46 54 74 470 
Fax : (3S2JM54 23 
BOND PORTFOLIOS 

d OEM Bald Db £44 Of 

0 Dh/erbcnd J3lsi6S 

0 Do Hot Bond— Dts 225 

0 European Bd Db 1 . 15 , — Ea 

d French Fronc_Dis 929 — ff 

0 Glottal Bond Dls2l? 

EQUITY PORTFOLIOS 


0 Asia Pod (I. 

0 Continental Europe 
0 Developing Markets 
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0 Deutschemarti Moirev— DM 90434 

0 US Dollar Money 3 38.934 

0 US Dollar High Yd Band s 

0 Inn Balanced Grth 1 3*34 

HA50NB1CKLCR ASSET MANGT GevnbH. 

iv HasenWchier Com AG S 676204 

w Hasenttcnier Com Inc 3 122.« 

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wMcndmvRi Futures FF 

HEPTAGON FUND NV (5999-41S5551 

/ HlPfQWfl QLB Fund S 

mHeotagon CMO Fund J NA 

HERMES ASSET MANAGEMENT LTD 
Bermuda: l«NI395 4006. Lu»:(352)«*44 6l 
Final Prices 

m Hermes EureMan Fund Ecu 

m Hermes North American FdS 

m Hermes Aslan Fund S 

m Hermes EmergMkts FundJ 

m Hermes Srraiealos Fund S 

m Hermes Neutral Fund 
m Hermes Global Fund 
m Hermes Bond Fund. 
m Hermes Sterling Fd 

aiHermrsGaia Funfl 

INCOME PARTNERS (ASIA) LIMITED 
w Aston FI «ed Income Fd_S )(L5*5 

INTERINVEST (BERMUDA) LTD 

00 Bank of Bermuda. Te( : 889 395 4XB 

m Hedge Hog & Conserve Fd_S 9 M 

INTERNATIONAL ASSETS FUND 

1 Bd FaraL L-2M9 Luxembourg 

w Europe Sud E Ecu 

INVESCO INT'L LTD, POB 271, jerter 
Tel: 46534 73114 
O Maximum Income Fund 
d Storting Mnga Ptfl 
0 Pioneer Mamets 

0 Global Band 

0 Okasan Global Strategy 
0 Asia Suaer Growth— 

0 Nippon Wufiunt Fund.. ■ .3 

0 Asia Tiger Warrant 

0 European Warrait Fund 

rf Gld N.W. 1994 

PPEMIEP SELECT FUNDS 

0 American Growth 

0 American Enterprise 
0 Asia Tiger Growth 

0 Dollar Reserve 

0 European Growth 
0 European Enterprise 
0 Global Emerging Markets-! 

0 Glottal Growth 

a Niooon Enterpri se 
a Nipoan 
0 UK Cm 

0 Slerllng Reserve 

0 North Amer lam Warrant S 

0 Greater CM no Pops — S 

1TALFORTUNE INTL- FUNDS 
iv Doss A lAygr. Growth [teas 
IV Class B (Global Equity 1 
w Goss C (Global Band)- 

w Class D (Ecu Bondi Ecu 

JAR DINE FLEMING. GPO Box IT 448 Hg Kg 

0 JF ASEAN Trust 1 6111 

O JF Far East WratTr S 3149 

0 JFGtobolConw.Tr S 1444 

d jFHono Kong Trust S 1843 

0 jf Japan sm. Co Tr v 49201.00 

0 JF Jaoan Trust Y 11671K! 

0 JFMotarrsNj Trust- S 3143 

0 jf Pocinc Inc Tr. s 1U) 

0 JF Thailand Trust — S MJ9 

JOHN GOVETT MAHT (I.OM) LTD 
Tel: 44434 -(2 94 20 

wGoven Man. Futures C 1154 

w GoveH Man. Fut. USS- _5 7.84 

w Govett s Gear. Cu*r_— _4 1159 

ivGovetl 5 GlbJ BoL Hdge S 108314 

JULIUS BAER GROUP 
0 Boertnnd 
0 Cwibor. 

0 Eaultaer Amer 
0 Eautoaer Europe 
0 SFR BAER 
0 Slocfcbor 
0 Swlssbar 
0 Uaulbaer 
0 Europe Bond Fund 
0 Dollar Bond Fund. 

0 Austro Band Fund 
O Swiss Bond F 
0 DM Bond Fur 
0 convert Band Fund 
0 Global Bond Fund 
0 Euro Stock Fund 

0 US Slock Fund 

0 Pacific Stock Funa 
0 Swiss Stock Fund- 
0 Special Swiss Stock 

0 Japan stock Fund- 

0 German Slock Fund DM 

0 Korean Stock Fund 
0 Swiss Franc Cash 
0 DM Cosh Fund 
d ECU Cow Fund . 

0 Sterling Cash Fund 
0 Dodar Cash Fund— 

0 French Fnxic Cash ff 

KEY ASSET MANAGEMENT INC 

m Key Asia Holdings s (0194 

m Key Global Hedge S 2667 

mKev Hedge Fund Inc S 190 93 

Kl PACIFIC A5SET MANAGEMENT INC 

mKi Asia Pacific Fd Lid i 1163 

KIDDER. PEABODY 
t> Chesoseake Fund Ud 

t> ill Fund Lid 

0 Inti Guaranteed Fund 

0 Stonehenge Ltd 

LEHMAN BROTHERS 22/81/94 

a Asian Dragon Pert NV A S 

d Aston Dragon Pert nv B s 

0 Global Advisors l| NV A 

0 Global Advisors II NV B 

d Global Advisers Part nv aj 
0 Global Advisers Pan nv b j 

0 Lehman Cur A0v. a/r * 

0 Premier Futures Aav A/B-J 
UPPO INVESTMENTS 

™ F ,ssi, 7 aE'«&nssr , '- MK 

■ jimiFiim ,«t 9.73 

wAsean Fixed me Fd S 8 48 

w I DR Money Market Fd ll 1282 

IV USD Money Mvket Fd s 1055 

1 * Indonesian Grewih Fd i 2353 

iv Asian Growth Fund S hlw 

iv Aslan Warrant Fund s 164 

UOYD GEORGE MNGMT (8SUS4S4W33 

w Antenna F und S 19.19 

w LG Asian Smaller Cos Fd_S 198101 

iv LG Incfia Fund LM 1 1697 

w LG Japan Fd S 10.05 

iv LG Korea Fd Pie _$ 10.97 

LLOYDS BANK INTL (BAHAMAS) Ltd 
nr Llovds Americas Portfatfa J 968 

LOMBARD, ODIER & Cl E - GROUP 
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+ - Offer PHcbk N JL • Not Avollabto; N.C. - 
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CORPORATE HIGH INCOME FTFL 
a ciqssa-i 
0 OanA -2 
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0 Ctosa B-3 

DEUTSCHE MARK PORTFOLIO 

d Caieacrv a DM 

0 Category B 1257 

EUROPEAN BOND PORTFOLIO (DM) 
dCtewA.l . t ms 

0 Clnvs a.? % llfij 

0 Class B-)_ * 1345 

0qossB-2 S 14.98 

EUROPEAN BOND PORTFOLIO 1US3) 

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dCessB-l * us 

0 Class B-3 ( ej3 

POUND STERLING PORTFOLIO 
tf Catenary a. t 1588 

0 Category 8 : 1337 

US COLLAR PORTFOLIO 

0 category A S 1350 

0 Cotegcrv B S I1W 

YEN POPTFOLIO 

0 Category a Y .293 

0 Category B „Y 1357 

MULTI CURRENCY BONO PTFL 
0 Class A * 31.92 

0 Class R « 2155 

US FEDERAL SECURITIES PTFL 

0 DOSS A 5 9.18 

0 Da« B S 947 

MERRILL LYNCH 
EQUITY / CONVERTIBLE SERIES 
BAJIC VALUE PORTFOLIO 
d rinssA ... t Ijjj 

0 Class B 1 14 M 

CONVERTIBLE SECURITIES PTFL 

0 DOSS A 4 13.9? 

0 Class B S 7155 

GLOBAL ALLOCATION PTFL (USW 
0 Class A 

d Class B 

GLOBAL EQUITY PORTFOLIO 
d Class A 

d Class B 

EURO EQUITY PORTFOLIO 

d Class A 

0 Class B 

LATIN AMERICA PORTFOLIO 
a CkEttA 

0 Class B 

PACIFIC EQUITY PORTFOLIO 
0 CiassA 

0 Class B 

WORLD NATURAL RESOURCES PTFL 

d Class A S 12.19 

d Class B S 1144 

DRAGON PORTFOLIO 

0 aoss A s 17J0 

d Class B S 1740 

MERRILL LYNCH EMERGING MARKETS 

d Class A S 1211 

0 Class B - S 12)0 

MERRILL LYNCH INC S PORTFOLIO 

rt nrm A c 844 

d Class B S 84 * 

0 Cini*r • 844 

MERRILL LYNCH MEXICAN INC PORT 

0 Mexican Inc S Pld O A S 9JH 

rf MeilerxiIncIPtflCIB s 9jn 

0 Mexican Inc Peso Ptfl a A4 8.96 

0 Mexican Inc Peso PtH OB4 B56 

MOMENTUM ASSET MANAGEMENT 
w Momenium Navel Her Prrf-S 93J4 

m Mome ntu m Rainbow Fd 5 11546 

171 Momentum RxR P.U S 79 2J 

m Momentum ShKkma3trr S 159 J2 

MORVAL VONWILLER ASSET MOT Ce 
■v Witter Japan v 

w Wilier South East Asia_5 

w WUIer Tetecam - _s 

w Wllterfurds-WKIerbond Cans 1173 

w Willertunda-WHIertxjnd Eur Ecu 12J3 

wWlliertunos-wiiiereq Eur —Ecu 1347 

iv WlltorfundS-WIUerea Italy JJt 12M4JH 

w WDIerturalvWtllereq N A S 1157 

MULTIMANAGER N.V. 

m Wand Band Fund . Fm 1248 

m European Eomnes ...Ecu 1449 

m Japanese Equities 
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w R (Public CAM Eureae USS5 
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w Peg G ton Currency 
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iv Republic Gnsev Dal Inc 

w Republic Greer Eur Inc _DM 

w Republic UP Am Alloc t 

•• Republic Lot Am Argent 1 

w Remmilc La Am Brazil s 

w Republic Lot Am Mexico S 

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nr Datwa LCF RomscWid Bd JS 

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w Parc* Cash Tradition CHF-SF 

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nr LeveraeM Cap Holdings 

w Obit- Valor 

w PrI Chailefige Swiss Fd 

D Pritwrty Fo-Eureoe Ecu 

C PriequliY Fd- Helvetia SF 

6 Prjynvtty Fd-LoHn Am 5 

b Prtoand Fund Ecu. 

D P riband Fuad USD .... ..,_S 
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iv Selective Invest SA 
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ROTKSCH I LD ASSET MOMT 

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SAFDIE GROUP/KEY ADVISORS LTD 
nt Key Diverelfleri Inc Fd UdJ 1)71192 
SA NTANDER NEW WORLD INV 
fll Commander Fwd 

mExBtorer Fund 

SC FUNDAMENTAL VALUE BVI LTD 
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0INAV S 132951 

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a-E-BANKEN FUND 

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INTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY, SEPTEMBER 24-25. 1994 


Page 


8* 



€ 


THE MONEY REPORT 


Popularity ofIRAs Is 
J Rolling Over 5 a New Leaf 


Where tile IRA Motley Is 

Distribution of individual r e t iremen t : ; 
account assets. ■ • ■ ’• ' ' 

1931 t 99 B ■' 1993 


By Judith Rehak 


A 


'ote 


M ERICA'S Individual Retire- 
ment Account, viewed as dead 
and gone alter its Full tax-de- 
ductibility was removed for 
most investors in 1986, is alive and well. 

; What is more, the IRA business is thriv- 
ing, even booming. At discount brokerage 
Charles Schwab & Co., 154,000 IRA ac- 
counts were opened in the first eight 
months of this year, a 16 percent leap over 
the same period in 1993. 

■ During the first two weeks of April, 
investors racing to beat tbe April 15th 
deadline for annual IRA contributions 
{toured a whopping $500 million into their 
accounts at Fidelity Investments, the Bos- 
ton fund giant, a 49 percent increase over 
the like period a year earlier. And Merrill 
Lynch & Co„ which owns about 10 percent 
Of the IRA marketplace, has seen a surge in 
its business in “rollovers.” company pen- 
sion plans that are \roHecT into IRAs. 
fel The improving UJ3. economy, more- 
over, has boosted the number of small, 
traditional IRAs coming in, accordin g to 
John Michel, Merrill Lynch's vice presi- 
dent of individual retirement sales. 

Once again, the force driving the IRA 
renaissance is a change in U.S. tax laws. 
As of the beginning of 1993, an employee 
leaving a company with a nest egg from its 
pension plan has been required to ‘roll 
over’ that lump sum directly Into another 
retirement account within 60 days, or face 
lpsing 20 percent of its value to pay future 
taxes. 

* Tbe lucrative rollover marketplace, esti- 
mated at roughly $100 billion, has set off a 
marketing war among IRA purveyors. 
Mutual fund marketing executives are 
rushing to eliminate or reduce fees to lure 
in rollovers, transfers from competitors, 
' or brand-new accounts. 

! The IRA’s ‘a dminis tration’ fee, once a 
standard feature at about $50 a year, is 
c(i sappearing or dwindling to $10 a year 
on smaller accounts, and is often market- 
ed with no-load funds as an investment 
vehicle. 

[ “Our One-Source mutual fund program 
attracted in excess of $1 billion in the first 
quarter of this year, and the majority of it 
was related to’ our positioning of no-fee 
IRAs when the balance is over $10,000," 


said Hugo Quackenbush, a senior vice 
president at Charles Schwab. 

Fidelity dropped most of its annual 
IRA fees last year, and eliminated com- 
missions on all but a few of its funds if 
they were purchased for a retirement ac- 
count Even the Vanguard Group, the big 
no-load fund manager that touts its rock- 
bottom management fees, has lowered or 
eliminated most administrative fees, con- 
ceding that competition had forced it to 
do so. 

A second area of the IRA marketplace 
showing signs of life is the ‘non-deducl- 
ible* IRA. Individuals who have a compa- 
ny pension plan, or who earn more than 
$25,000 (if single) or $40,000 (if married 
and Filing a joint tax return), axe not 
eligible for tbe maximum $2,000 tax de- 
duction, but they can still defer taxes. 

“There's more of a recognition that tax 
deferral is very beneficial" said Mark 
Tulley, a vice president for retirement 
products at AG. Edwards, a regional bro- 
kerage based in Su Louis, Missouri. 
“Folks see it as a nice way to save.” Still, 
say other analysts, non-deductible IRAs 
can be a tough sell. 

“Deductible is an immediate reward, 
while non-deductible means there's a re- 
ward down the line," says Stephen Saw- 
telle, a division manager with Wadddl & 
Reed Financial Services in Hamden, CT. 
“You have to point out the power of 
deferred growth." 

Such advice underscores a major trend 
in the saving-for-retirement business. Ma- 
jor brokerages and fund managers are 
getting into the 'investor education' busi- 
ness in a big way. Full-service brokers and 
financial advisers charge fees for person- 
alized service and specific advice on what 
to buy. Mutual fund groups like Fidelity. 
T. Rowe Price and Vanguard have sent 
out hundreds of thousands of free retire- 
ment Tats’ with generic information, asset 
allocation suggestions and worksheets. 

The interactive revolution has even hit 
the scene. Some fund managers and invest- 
ment advisers are producing computer 
programs for the do-it-yourself investor. 

“We've seen a significant amount of 
interest in our software that lets you do 
your own retirement scenario," said JIB 
Ward, a vice president with Fidelity's re- 
tirement products marketing group. Fidel- 
ity has filled 50,000 requests for its retire- 


Demographic Time Bomb Still Ticking 


. . ■ ••• 

Comrnsnaalbante 

■m5'. -18.4 IS# 

Thrifts 

133 ■ -11.4 ■. as 

IfelnsUfffiiCft.caifipaRtes 

7-4 • 75 -..IQ 

CreStHnwns 

■ 4:9 .4.4 3.8 

Mutualfurate; . 

25.7 ; 28.3 .33.! • 

Sefrtiieeted 

275 - 30.1 ^ 31.6 

(Maynoitotal irodtatoiourefing) 

Source: Mutual PofitS Fact Book ■ ■ ■■ 


By Barbara Wall 


P 


meat-p lannin g computer program in the 
past year. 

While analysis say there’s no denying 
that these efforts are also marketing ploys 
by Lhose who are pursuing IRA business, 
there is also considerable evidence that 
investors could indeed use more advice on 
retirement investing. 

Mutual fund companies and huge bro- 
kerages like Merrill Lynch, a major player 
in company retirement plans, have gained 
a foothold in the IRA rollover market 
because (heir funds are typically used for 
investing in company pension plans such 
as 401k vehicles. Increasingly, these 
groups are also providing seminars and 
other ‘exit’ information for people leaving 
companies, showing diem how to roll over 
their accounts without tax penalties. 

But what of the investor who has no 
company pension plan and only an IRA 
to rely on? Financial advisers who work 
with individuals see a need for more pro- 
fessional advice. “One mistake is overdi- 
versifymg,” said Mr. Sawtelle. “We’ve had 
examples of $20,000 split up among 20 
mutual funds. Every time a report comes 
out in some newsletter or magazine, 
$1,000 goes into the fund." 

Another error, say some analysts, is 
putting IRA money into m uni rip al” bonds, 
whose already tax-free interest, ironically, 
becomes taxable when held in an IRA. ' 

Most unfortunate, say purveyors of re- 
tirement accounts, are the milli ons ^ 
Americans who still need to get the IRA 
message. “Roughly 50 milli on Americans 
are still eligible for at least a partial deduc- 
tion,” said Miss Ward of Fidelity. “And a 
good number haven’t taken advantage of 
it." 


ENSIONERS, quite naturally, 
expect their state pension rights to 
be honored. But as reserves di- 
minish and the percentage of el- 
derly citizens in the major industrialized 
economies escalates, economists fear that 
future generations of pensioners will be 
left to fend for themselves. 

Elizabeth Harwick, a research analyst 
at S.G. Warburg Securities in London has 
recently completed a study on demo- 
graphic trends. She notes that the over-65 
age group currently represents just over 6 
percent of the world’s population but is 
projected to increase by over 50 percent to 
8.7 percent by 2025. 

“The problem is especially acute in in- 
dustrialized countries, where the percent- 
age of those over 65 has advanced from 7.6 
percent in the 1950's to 12 percent in 
1990,” said Miss Harwick." And it is pro- 
jected to rise to 18 J percent by 2025, 
almost twice the world average." 

With less money going into the state 
pension kitty and more workers joining 
the old-age pension queue, it is difficult to 
see how social-security systems will cope, 
particularly in countries with generous 
benefits, observers say. 

“Population projections show that the 
strain will be felt especially in Continental 
Europe and Japan, where the proportion 
of elderly people is expected to increase 
most rapidly,” said Miss Harwick. “The 
UJC. and U.S. provide wide coverage in 
private pensions already, and it is likely 
that they will face less demographic pres- 
sure over the period from 1990 to 2010." 

The rapidly rising number of retired 
people relative to the number of money 
earners — a statistic known as the “old- 
age dependency ratio” — may also affect 
the amount of available industrial labor. 

“Past experience has shown that an 
economy grows when its labor force 
grows," said Russell Jones, chief interna- 


Retirees' Swelling Ranks . j 

Aga 6$ and over population as a percentage of total; percentage change 1990-2025. ; 

1958 1870 1990 1995 2000 2010 2025 ch ^ ge j 


Worfd 5.1 5.4 

More developed regions 7.6 9.6 

Britain 10.7 . 12.9 
Germany 9.7 13.7 
■ France 11 A 1-2.9 
. . . Italy 8.3 10.9 
U.S. 811 9.8 

Canada 7.7 7.9 
-Japan- 4.9 7.1 

Source: United Nations ■■■■'■ 


6.2 
. 12.0 
•15.7 

14.6 

14.0 

14.1 

12.6 
11.5 
11.7 


6.5 

12.9 

15-6 

14.8 

14.9 

15.6 

12.6 
12.0 

13.9 


6.8 

13.5 

15.4 

15.5 
15.G 
17.0 

12.3 

12.4 

16.2 


7.3 

14.4 

15.8 

18.4 
16.0 

18.9 
12.8 
13.3 
20.1 


8.7 

18.3 

19.4 

20.5 

21.2 

22.3 

18.5 

18.6 

24.4 


-4-56.5 

+52.5 

+23.6 

+40.4 

+51.4 

+58.2 

+46.8 

+61.7 

+208.5 


lional economist at the brokerage UBS 
Phillips and Drew in London. “And al- 
ready, many governments are anticipating 
an inadequate supply of certain types of 
labor.” 

Among the OECD countries, govern- 
ments are faced with serious budget defi- 
cits that will be exacerbated by increased 
government-pension liabilities. A recent 
OECD survey on current and future pen- 
sion liabilities in industrialized economies 
showed that unfunded state-pension li- 
abilities were highest in Jtaly and France. 
The survey also reported that state pen- 
sion liabilities in the United States and 
Japan were partially offset by financial 
assets held in private pension programs. 

The state pension expenditure ratio in 
OECD countries is expected to sharply 
increase between 1990 and 2040, the year 
in which the old-age dependency ratio 
reaches its peak. The survey noted that 
Italy shows the sharpest increase in the 
expenditure ratio — from 11 percent of 
GDP to almost 23 percent — in 2040. In 
France, the ratio is calculated to increase 
from 9 percent in 1 990 to 1 5 percent at the 
peak. 

“V governments intend to keep their 
debt levels within manageable propor- 


tions something will clearly have to give,” 
said Michael Hughes, an economist with 
the U.K-. based brokerage Barclays de 
Zoetle Wedd. “Noises are being made, 
and the G7 governments arc making a 
concerted effort to try and get people to 
save more.” 

In 1993, Italy placed limits on the avail- 
ability of state pensions and introduced 
tax incentives to promote a personal pen- 
sion sector. Meanwhile, the French gov- 
ernment is now looking at legislation 
which would permit the establishment of 
new types of personal pension funds. 
“Legislators axe also looking at increasing 
the pensionable age,"commented Mr. 
Hughes. “Italy has already extended this 
by five years and the New Zealand gov- 
ernment has bluntly stated that it will not 
be paying a pension until age 75." 

Mr. Jones added: “Clearly, no one solu- 
tion is ideal. People may have to get used 
to the idea that the aging population struc- 
ture marks the demise uf’ ’postwar welfare- 
stale arrangements." 


The Money Report is edited by 
Martin Baker 


Mutual Funds Battling Insurance Sector in U.S. 


By Baie Netzer 


F 


BRIEFCASE 


id 


Regent Raisas $20 Million 
For Russian Equity Fund 

< Apparently, the MMM debacle hasn't 
spured everybody on investing in the for- 
mer Soviet Union. Regent Fund Manage- 
ment has raised $20 million for its new 
White Tiger Investment Co_ which will 
invest in equity growth opportunities in 
Russia. A total of two million shares have 
been bought, chiefly by American and 
European investors. 

• Regent says that the fund will focus on 
‘^undervalued, asset-rich” companies in 
the oil, gas, utilities, telecommunications, 
property and shipping sectors, and is 
boldly forecasting that share prices in 
Russia will rise by 400 percent over the 
4ext three years. 

* Regent Fund Management is pan of the 
Hong Kong-based Regent Pacific Group 
tyd.. which manages about $Z2 billion in 
a, variety of funds. For further informa- 
tion, call Regent Pacific in London on 
(44.71) 332.0360. 


In announcing that the fund was over- 
subscribed, Sophie Shaw, a director of 
Regent, said that “investors are recogniz- 
ing that Russian shares are undervalued.” 

Accelerated Death Benefits 
Gaining Popularity In U.S. 

A survey released earlier this month by 
the American Council of Life Insurance 
and LIMRA International, a trade associ- 
ation of UJS. life-insurance companies, 
showed that at least 18 million Americans 
now own life insurance policies that con- 
tain an accelerated death benefit. 

Accelerated death benefits, also known 
as “living benefits.” are provisions that 
enable insurers, under certain circum- 
stances, to pay all or part of the death 
benefit to policy holders before they die. 
The purpose of the option, which was 
introduced in the United Slates in the 
1980s, is to help the insured pay for the 
costs of catastrophic illness, long-term 
hospital care and nursing-home confine- 
ment 


New Regulation Roils British Pension Industry 




By Rupert Bruce 


I 


N THE BAD old days, 
British pension salesmen 
often gave the impression 
that they sold their wares 
out of the goodness of their 
hearts. Little mention was made 
of the commissions they re- 
ceived. But times changed and 
the law required some salesmen 
to reveal their rewards. 

[ Now, things are ch an gi n g 
again. A new law effective at 
t(ie beginning of 1995 will re- 
quire all salesmen to tell inves- 
tors exactly bow much money 
actually ends up being invested 
in their pensions and how much 
g£is eaten up in charges and 
commissions. 

’ Much of the British life insur- 
ance and pension industry is up 
i4 arms, tearing that the com- 
missions, which it deems rea- 
sonable and competitive with 
oiher types of pension prod- 
ucts, will be perceived as exces- 
sive by tbe public, costing the 
industry business. 

* indeed, the industry has been 
fighting just such a bw for 
y$a is. But the British govern- 
ment. startled by a series of 
pension scandals and galva- 
nized bv a need u? encourage 


savings through personal pen- 
sions, has acted. 

The industry has responded 
with tales of woe. David 
Prosser, chief executive of Legal 
& General, one of the largest 
life and pension companies list- 
ed on the London Stock Ex- 
change, accompanied his recent 
results statement with the 
gloomy prediction that the new 
regime would force some of the 
100 to ISO life and pension 
companies into merging with 
their larger brethren. 

And Mr. Prosser is not alone 
in his sentiments. Most of the 
industry has gone into a funk as 
it has mulled over the effect of 
the legislation on its profit mar- 
gins. 

The new regime will be 
phased in over the course of 
1995. It is quite complex, but 
the most severe pan concerns 
the disclosure of charges. So far, 
it only applies to the sale of life 
insurance and pensions, but 
British investment regulators 
are drawing up proposals that 
could apply similar rules to in- 
vestment funds. 

Scottish Widows, a large life 
and pension company based in 
Edinburgh, says it can illustrate 
just how harmful this regime 
could be for the industry. Tbe 


EW WORKING 
Americans would ar- 
gue that their Social 
Security benefits will 
provide a measurable financial 
cushion when they retire. In- 
deed, if current "contribution 
and payout levels are main- 
tained, according to some esti- 
mates, the system will be bank- 
rupt by 2036. 

As a result, more Americans 
are counting on their own sav- 
ings and on their employer’s 
pension plans to finance their 
retirements. Experts say, more- 
over, that aggressive marketing 
efforts by mutual fund compa- 
nies is winning business away 
from insurance companies, 
which have been a traditional 
provider of pension-oriented 
products. 

Today, about 23 percent of 
all U.S. mutual-fund assets are 
held in some form of retirement 
account, according to the In- 
vestment Company Institute, 
the trade association for the 
U.S. mutual-fund industry. 
And of the $857 billion invested 
in Individual Retirement Ac- 
counts, known as IRA's, over 
one-lhird is controlled by fund 
companies. 

By marketing administrative 
services for die complex plans 
of large employers, these same 
companies nave also managed 
to increase their share of pri- 
vate-trustee plans to 4.2 percent 
. . _ . . „ . , . from 1.6 percent in 1983. 

idows says it would 2 percent typically charged by while that percentage may 
have to tell a 29-yeax-old man British banks on their accounts. j ow> is nol insignificant 

who is earning £50,000 a year and the 1.25 percent charged by gj vcn tfj e ^ of ^ pr jvate plan 
($78,500), who plans to retire at many British investment funds. ^ estimated $2.4 tril- 

Mr. Graham believes the new lion, 
regime may trigger a trend to- Indeed, according to a survey 
ward people buying savings about to be released by the 
products that require just one Profit Sharing Council of 
investment rather than those in- America, actively manage d rau- 
volving a series of regular pre- ruai funds are now the most 
mi urns. Tbe so-called “angle popular investment option of- 
premium" products, he said, fered to participants in corpo- 
will appear cheaper. rate profit-sharing pension 

Some life insurance and pen- plans, 
sion companies are enthusiastic The rise in popularity of mu- 
about the new regime, however, tual funds since 1989 has also 
saying dial the new disclosure nudged aside a traditional in- 
rules wil] show the public that surance-company product, the 
their charges are low compared fixed-rate guaranteed invest- 
with those of competitors. meat contract or GIC. 


The survey also shewed that over 215 
U.S. life-insurance companies now offer 
some form of accelerated death benefit, 
including 21 of the 25 largest companies, 
an increase of 90 percent since a similar 
survey was carried out in 1991. 

Lazard Launches Unit Trust 
That Targets U.K. Brewers 

Lazard Investors, the London-based 
unit trust manager, has announced the 
imminent launch of the Lazard Brewers 
Investment Trust, which will invest princi- 
pally in quoted equities of U.K. regional 
brewers, pub concerns and other small 
companies engaged in the production or 
sale of drinks. Some U.K. beverage-sector 
analysts have said that the British brewing 
industry 1 is ripe for earnings growth. 

The fund’s prospectus is expected to be 
published by the end of September. For 
further information, call Lazard on 
(44.711 588.2721. 

Next week in The Money Report: 
inside look at insider trading. 


While there seems to be no 
end to the structures a U.S. pen- 
sion plan can adopt, there are 
two particular designs which 
are growing in popularity: The 
defmed-comribution plan and 
the IRA. Analysts say that mu- 
tual-fund companies enjoy a 
marketing advantage where 
both of these products are con- 
cerned. 

Some pension planners add 
that the booming demand for 
mutual funds — both by corpo- 
rations selling up defined-con- 
tribution plans and by individ- 


"Tbe mutual fund companies 
really set the rules by providing 
toll-free telephone numbers 
and daily valuation to partici- 
pants in 401k plans,” said Scott 
Harrison, chairman of the Na- 
tional Institute of Pension Ad- 
ministrators. “They also pro- 
vide administration for the 
targe plans, whereas tbe insur- 
ance companies are trying to 
contract out administration be- 
cause they know they can't do it 
efficiently.” 

In a so-called 401k plan, em- 
ployees typically put up to 10 


uals saving for retirement — is percent of their gross salaries 
due to die overall good perfor- into a company fund invested 
mance of mutual funds over the 


an 


following is an example of what This, he adds, is less than the 
Scottish Wi " 


65, and who wants to buy a 
personal pension. 

Say the man in question 
makes an initial payment of 
£2,000 a year, gradually in- 
creasing the annual contribu- 
tion until, in the 34th year, he 
contributes about £14,000. 
Over 35 years he pays a total of 
£230,560 into the pension. But 
£49,400 of that goes in charges. 

Assuming a 9 percent annual 
growth rate in the underlying 
portfolio, the charges would re- 
duce the size of the fund at 
re tire ment by £196,000. On the 
other hand, the fund would still 
be worth about £740,000. 

David Graham, bead of mar- 
keting at Scottish Widows, is 
keen to explain that setting out 
the charges in cash terms makes 
them look worse than they are. 
In this example, he says, the 
charges only reduce the annual 
return from 9 per cent to 7.9 
percent. In other words, there is 
an annaal charge of 1.1 percent 


past 15 years. 

“In the past, a company 
would typically buy a fixed-rate 
insurance company product 
like an annuity or GIC for its 
plan,” said Kerry LeCrone, a 
senior vice president at the U.S. 
pension consultant LCG Asso- 
ciates. “But the rise in slocks 
has convinced them that they 
can earn excess return in equity 
funds. The companies we do 
business with don't use insur- 
ance companies at all because 
their services are just viewed as 
an extra layer of expense." 

Fred Hunt, president of the 
Washington. D.C.-based Soci- 
ety of Professional Benefit Ad- 
ministrators, added: “It looks 
like Social Security may not be 
there for the baby boomers 
when they retire. People who 
might have been very conserva- 
tive with their retirement sav- 
ings in the past are now consid- 
ering the equity markets 
because the common wisdom is 
that they offer higher long-term 
returns.” 

Of course, there's nothing 
preventing an insurance com- 
pany from offering equity mu- 
tual funds. Many, in fact! have 
used variable-annuity products 
to offer a selection of their own 
in-house funds. 

Few analysts, however, ex- 
pect the $175 billion business 
for variable annuities to grow at 
the same pace as retirement as- 
sets invested directly in mutual 
fund shares. 


company 
in stocks, bonds and money 
markets, with income taxes de- 
ferred on the amount of the 
contribution. 

In the lastest grasp for the 


booming retirement savings 
market, discount brokerage 
Charles Schwab & Co. last 
spring began offering its entire 
selection of 300 “One-Source” 
funds from various companies 
to corporations setting up 40 Ik 
plans. Marketing and adminis- 
tration of the plan is handled by 
a variety of accounting firms 
acting in partnership with 
Schwab. 

“By selecting from a market- 
place of funds, you can easily 
switch between funds and funti 
families if you’re disappointed 
with the performance,” said 
Bob Starkey, a partner at the 
auditing firm Deloittc & Tou- 
che. “Once you’ve signed the 
annuity contract for an insur- 
ance plan, you're in the con- 
tract." 


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Page 16 




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SPORTS 


NFL Salary Cap Doesn’t 
Pinch, and Doesn’t Hurt 


The Associated Press 

WASHINGTON — The 
Washington Redskins lead the 
National Football League with 
a payroll of $46,997 milli on, in- 
cluding pro-rated bonuses and 
player benefits, according to 
figures released by the NFL 
Players Association. 

The numbers also show that 
18 of the 28 teams are over the 
$34.6 million salary cap when 
pro-rated bonuses are included. 
Ironically, the 10 teams under 
that figure include the two-time 
Super Bowl champion Dallas 
Cowboys and two of the NFL’s 
four 3-0 teams, the Miami Dol- 
phins and New York Giants. 

’This proves that teams can 
spend the money and they are 
spending the money," the 
NFLPA spokesman Carl Fran- 
cis said “If they want to sign a 
player, they can find a way. 
There’s money in the system for 
every player.” 

Under the bargaining agree- 
ment rules, te ams may pro-rate 
a signing bonuses over the life 
of a contract so it doesn't count 
against the salary cap in one 
year, even if they pay the money 
during the first year. 


For example, rookie quarter- 
back Heath Shuler's eight-year. 
$19.25 million contract with the 
Redskins includes a $5 million 
si g ni ng bonus. But only his 
$945,000 base salary plus the 
£625,000 proraied portion of 
the signing bonus — a total of 
£1.57 million — count against 
the salary cap this year. 

In the same way, San Fran- 
cisco has been able to sign such 

NFL MATCHUPS 

players as Rickey Jackson and 
Deion Sanders and stay under 
the cap by including most of 
their payments in incentives or 
pro-rated bonuses. Hie incen- 
tives, if they’re not likely to be 
earned this year, don’t count 
against this year's cap. 

■ This week’s games: 

Miami (3-0) at Minnesota (2- 
1): Vikings' ferocious defense 
puts heat on the passer and 
shuts down the rushing attack; 
Dan Marino has one of the 
quickest releases in football and 
can beat most pass rushes. Vi- 
kings’ defense has not allowed a 
quarterback to throw for 300 
yards in 39 straight games; Ma- 


SIDELINES 


Singh Shoots 63, Leads by 3 in Golf 

SAfNT-NOM-LA-BRETECHE, France (API — Vijay Singh 
swept to a three-stroke lead Friday in the second round of the 
Lancome Trophy golf tournament when he shot 7-under-par 63 
over the 6, 1 64-meter (6,74 1-yard) Saint-Nom course. 

Six successive birdies starting at the eighth hole, then a seventh 
birdie at the 16th and a 5 3-meter (17-foot) putt that saved par at 
the 18th kept him three strokes ahead of Miguel Angel Jimteez, 
who shot 64. 

Ian Woosnam opened up with three successive birdies and 
finished at 65-133 and was third. 

Severiano Ballesteros, tied with Singh after one round, carded 
69 to claim fourth place at 134. 

FINA: All Tests Negative in Rome 

LAUSANNE, Switzerland — Despite considerable speculation 
that some Chinese women swimmers have been aided by perfor- 
mance-enhancing drugs, FINA, the sport's governing body, an- 
nounced Friday that all 1 69 tests at this month’s world champion- 
ships were negative. 

Chinese swimmers won 12 of the 16 events for women and set 
five world records in Rome. 

In its statement, FINA said all winners and world record 
breakers in Rome were tested. So were medalists in the diving, 
water polo and synchronized sw imming competitions. 

Flyers Trade Soderstrom to Islanders 

UNIONDALE, New York (AP) — The Philadelphia Flyers 
have traded 25-year-old Swedish goalie Tommy Soderstrom to the 
New York Islanders for a draft choice and Ron Hex tail, a former 
Flyer goalie who was ineffective in last season's NHL playoffs. 

• Dominik Hasek, the 29-year-old Czech who won the Vezina 
Trophy as the league’s top goalie last season, said he would be 
satisfied as the NHL’s third highest-paid goahenden he walked 
aimng camp this 


out of the Buffalo Sabres’ training camp 
down a three-year, S6 million offer. 


week after turning 


Welsh Lose Quinnell to Rugby Union 

WIGAN, England (AP) — Welsh No.8 forward Scott Quinnell 
became the latest big-name rugby union player to switch to rugby 
league^Friday when he signed for Wigan in a four-year deal worth 

It was widely expected that the 22-year-old Welshman, whose 
father, Derek, also was a top rugby union player, would wait until 
after next year’s World Cup in South Africa before making bis 
decision. 


rino's nine touchdown passes 
leads NFL. The edge: Viking 
quarterback Warren Moon 
against Miami’s banged up sec- 
ondary. Oddsmakers favor Vi- 
kings by 3 points. 

Atlanta (1-2) at Washington 
(1-2): Redskins* Andre Rjson 
has caught 23 touchdown 
passes in the last 22 games, 
while Brian Mitchell leads NFL 
with 19 yards per punt return. 
But Falcons, abused by last 
week, can be expected to blitz 
quarterback John Friesz quite 
often. Game rated even. 

Cleveland (2-1) at Indianapo- 
lis (1-2): Colts have Marshall 
Faulk, who leads the AFC in 
rushing with 308 yards on 56 
carries, but Browns are surpris- 
ingly solid on defense. It has 
held opponents to 30.4 percent 
on third-down conversions. 
Browns favored by 1 point. 

LA. Rams (1-2) ait Kansas 
Gty (3-0): Rams’ Willie Ander- 
son leads NFL with an average 
33 yards per catch, while Chiefs’ 
plus- 10 turnover ratio also leads 
NFL. They have never gone 4- 
0, until now. Chiefs by 15. 

Tampa Bay (1-2) at Green 
Bay (1-2): Bucs are only team in 
NFL that hasn't thrown an in- 
terception, Packers' Brett Favre 
has thrown four, with three 
touchdown passes. More im- 
portantly, three Packer offen- 
sive linemen are out with inju- 
ries and Edgar Bennett, the 
leading rusher and receiver, 
might be out with a separated 
shoulder. Packers by 8. 

Cin cinnati (0-3) at HoUStOO 
(0-3): Ben gals are only team in 
NFL that doesn’t have a sack. 
Oilers’ offensive line has given 
up 14. The only sure thing; 
Someone is going to win their 
first game. Oilers by 9. 

New England (1-2) at Detroit 
(2-1): Patriots lead league in 
scoring with 101 points. But 
Barry Sanders set Detroit club 
record with 40 carries (194 
yards) against Dallas last week, 
and New England's defense still 
has problems stopping the big 
play. Lons by 3%. 

New Orleans (1-2) at San 
Francisco (2-1): Saints’ quarter- 
back Jim Everett has pulled 



Sieve HcihefTit Aunoaied Pn>' 

SOUTHERN HOSPITALITY — West Virginia split end Rahsaan Vanteipool 
eluded cornerback W illiam Yarborough’s grasp, but No. 14-ranked Virginia Tech (4- 
0) rolled to a 34-6 victory at home when the defense got eight sacks, intercepted two 
passes and dropped the Mountaineers' ball carriers for losses eight times. 


groin muscle that could hamper 
his mobility. 49exs’ Steve Young 
must be waiy of New Orleans’ 
pass rush — linebacker Darion 
Conner has four sacks — but 
little rise. 49ers by 14. 

Pittsburgh (2-1) at Seattle (2- 
1): Seahawks’ plus-6 turnover 
ratio is No. 2 in NFL. Rod 
Woodson's 27.6 yard per kick- 
off return for Steel ers is third in 
AFC. and running back Barry 
Foster seems to be back in 
stride. Seahawks by 1. 

San Diego (3-0) at LA. Raid- 
ers (1-2): Raiders blew out 
Denver last week, but Charges 


have the edge: Jeff Gossett's 
47.5 yards per punt leads NFL 
defense has 12 sacks, leading 
AFC, quarterback Stan 
Humphries hasn’t thrown inter- 
ception in last 140 passes and 
San Diego has won last three in 
LA. Coliseum. Raiders by 4. 

N.Y. Jets (2-1) at Chicago (1- 
2): Bears have committed just 
three turnovers, third best in 
NFC. Jets’ offensive line has 
given up just two sacks, and 
defensive tackle Tony Casillas 
joined team this week; he 
should help a lot in stopping the 
run. Jets bv 7. 


Denver (0-3) at Buffalo (2-1): 
Broncos have allowed league- 
high I i 0 points, while Bills’ An- 
dre Reed is second in AFC in 
receiving with 308 yards. And, 
there’s no place worse than Buf- 
falo on a Monday night. But, 
Bills have a shuffled offensive 
line and beat Houston last week 
on five field goals. Bills by 8. 

Open date: Arizona, Dallas, 
New York Giants, Philadel- 
phia. 

The matchups were compiled 
by Timothy W. Smith of The 
New York Times 


The U.S. Labor Games 

Baseball Strike Oct . 1 Deadline 
Angers Congress Threatens NHL 


* 


H'ashmpiw Pint Service 

WASHINGTON — Major 
league baseball’s longstanding 
exemption from federal anti- 
trust laws apparently is in great- 
er danger than ever before of 
being repealed or limited by 
Congress. 

Both during and after an pf- 
ten-combative House subcom- 
mittee hearing Thursday, law- 
makers pledged to increase their 
efforts to pass a bill to at least 
limit baseball’s antitrust exemp- 
tion. but conceded that such leg- 
islation is not likely to be en- 
acted before early next year. 

Representative Jack Brooks, 
the Democrat of Texas who is 
chairman of the House Judicia- 
ry Committee, said that, for the 
first time, he will support the 
movement to repeal the anti- 
trust exemption established by 
the Supreme Court in 1922. 

The union chief, Donald 
Fehr, told the subcommittee on 
economics and commercial law 
that the players would end their 
strike if such legislation was 
passed. 

Bud Selig, the acting commis- 
sioner, making his fourth ap- 
pearance before a congressional 
committee or subcommittee, 
played down the significance of 
Brooks's announcement. “I 
really believe this will not be 
settled in the halls of Con- 
gress,” be said. 


■Wr York firm 5 c*av 

NEW YORK — Another 
U.S. sports labor confrontation 
has turned threatening, with the 
National Hockey League Com- 
missioner Gary Bettman saying 
the start of that season will be 
postponed unless the teams and 
the players settle on a new col- 
lective bargaining agreement. 

Starting the season as sched- 
uled on Oct. 1 without a new 
contract would put the "season 
at risk,” Bettman said Thurs- 
day, because management 
would be vulnerable to a strike 
during the season, similar to 
what happened in baseball. 

With the rest of the major 
league season canceled because 
of a strike, hockey has an un- 
usual window of opportunity 
for exposure next month, a situ- 
ation acknowledged by bagyr 
Bettman and by Bob Goo- 
denow. the executive director of 
the NHL Players Association. 

Goodenow said Thursday's 
threat was “strictly ji pressure 
play, not unexpected" that “will 
not move the players on key 
issues.” 

The two sides ore scheduled 
to meet Monday in Toronto, 
five days before the seasons 
opens. Bettman said coining to 
an agreement “will be difficult” 
but “won’t be impossible.” 
Goodenow said, “I wouldn't 
disagree with that.” 


NBA and Its Players Back in Court 

New York Timex Semec 

NEW YORK — The legal power struggle between the National 
Basketball Association and the players' union moved into a 
federal appeals court, where the union sought to reverse a lower 
court ruling that found that the salary cap. college draft and right 
of first refusal signing system do not violate antitrust law. 

The union contends that after the collective bargaining agree- 
ment with the league expired June 24, the three disputed policies 
fell out of the jurisdiction of federal labor law and become 
provisions restricting the free- market opportunities of players 
from die day they are drafted to when they retire. 

The league disagrees. “This is a dispute over terms and condi- 
tions of employment that is governed by federal labor laws." 
Jeffrey Mishkin', a league lawyer, told a three-judge panel of the 2d 
U.S. Circuit Court of Appeals on Thursday. d# 

“Antitrust law should not be used to subvert federal labor law." ▼ 
In July, the union failed to persuade U.S. District Court Judge 
Kevin T. Duffy that the expiration of the agreement extinguished 
its collective bargaining relationship with the NBA. Duffy ruled 
that the league is protected from the antitrust laws by a nonstatu- 
tory labor exemption. 


SCOREBOARD 


Japanese Leagues 


NHL Preseason 


Caotnil League 


Thursday 1 * Gama 



w 

L 

T 

Pet 

GB 

Ottawa 4. Hartford 3 


Yomluri 

44 

57 

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Detroit Z Toronto 2 


Hiroshi ma 

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59 

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6Vl 

Chicago 5. Las Vegas UHL) 4 


Yokohama 

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44 

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■480 

7 

Vancouver 7, Pittsburgh 4 


Yakut* 

55 45 0 

Friday* Results 

AH 

Wi 

San Jose Z New York Rangers 0 • 



Yokohama v YamJuri 0 
Onmiehl S Hiroshima 4 
YakuH 1. Konshin 0 

Pacific League 
Sdbu 73 SD 0 

Kintetsu 45 55 7 

Dole I 44 54 1 

on* 45 57 a 

Lotte 50 48 1 

Nippon Ham 43 75 4 

Friday's Results 
Nippon Horn < Sottou 2 
Kintetsu 1Z Lotte 5 
DaM 4 . Orix 0 


.590 

£42 

.541 

-533 

.424 

M4 


ITALIAN CUP 
Second round, second lee 
Roma Z Floretm/ota 1 
{Roma won 5-1 on aggregate) 

FRBNCH FIRST DIVISION 
MantpeNler Z Mama 2 
Standings: Nantes 21, Lyon 20, Lens Tfc 
Carnes 14. Salnt-Ettenne 15, Strasborag 15, 
Martlgues W, Bordeaux 14, Ports si . Germain 
ILAuxerreU Rennes 1Z Nice 1Z Bastion, 
Sotfwux Id Monaco e, Le Havre l Ulte 3. 
Montpellier 7. Men t, Caen 1 


H1CH1REI OPEN 
Friday, In Tokyo 
Ouarferflnats 

Amy Frazier (7). Ui. del. Mono EnOa Jo- 
pan, 4-Z 7-5: Arantxa Sanchez Vi cor to |l>. 
Spain, det. Moiianne werdef. U.S. 4-4. 40: 
Gabrleta Spool ini (4), Argentina. def.AISugl- 
yama. Japan. Mb 4-7 (5A71, 7-5; Nano Miynyi. 
Japan, def. Sabine Hack <4>, Germany. 7-6 
t7/3J. 7-5. 

BASEBALL 
American League 

BOSTON— Fired Charlie Mott, trainer. An- 
nounced they have reached a fwo-yecr work- 
ing a gr eem ent with the Peoria Chiefs. Mid- 
west League. 

DETROIT — Announced they have reached 
a two-year working agreement with the Jack, 
sonvlfie Suns. SI- 
NEW YORK— Exercised the option on Mike 
SKeiter. anchor. 


Notional League 

COLORADO— Announced a Iwo-yeor work- 
ing agreement with New Haven Ravens. EL. 

LOS ANGELES— Announced they have 
reached 0 two-year working agreement with 
San Bernardino Spirit, Cl_ 

BASKETBALL 

National Basketball Association 

L A. CLIPPERS— R e-Si gn ed Keith Jones, 
trainer, to multfrear contract. Named Jeff 
Wettmcsi director of scouting. Resigned Har- 
old Ellis, forward. 

CHICAGO— Re-signed Bill Wenntogton. 
center, la mutttvear contract. 

GOLDEN STATE— Signed Dwayne Mor- 
ton, forward. 

ORLANDO— Signed Brian Shaw, guard, to 
1-vear contract. 

FOOTBALL 

Matttma] FootOflU ljoew 

CINCINNATI— Claimed Brett Wallerstedr. 
linebacker, aft wotvert from Denver. Re- 
leased Eric Show, linebacker. Signed Mom 
Dermis, offensive linemen, to T-veor contract- 
Released Kanovts McGhee, defensive end. 

□ENVER— Signed Dennis Smith, safety. 
Released Bren Wolhmtedt. linebacker. 

INDIANAPOLIS— Waived um«* Telchd- 


mm. defensive Unemon. Signed Freddie Joe 
Nunn and Al Noaa, defensive lineman. 

LA RAMS — Placed Ketth Loneker.guonL 
an injured reserve. Re-signed Todd Kincnen, 


MIAMI— Signed Ddvfd Pool, co roorback. 
Waived Brant Borer, linebacker. 

N.Y. GIANTS— Released Mark Jock son. 
wide receiver. Claimed Coleman R udOlP h .de- 
fensive end. off waivers from N.YJets. 

N. Y. JETS— Signed Kenny Shedd, wide re- 
ceiver. to practice snood. 

HOCKEY 

National Hockey League 
NHL— Suspended Pittsburgh center Shawn 
McEochern without pay for first 3 games of 
season and fined him 5500 far stashing leg rt 
Washington Capitols defenseman Cade Jo- 
hansson during Game 4 of Eastern Confer- 
ence quarterfinals April 27. 

ANAHEIM— Recoiled Alton Bestef, ooaDe, 
from Sen Diego. IHL. Assigned Denny Lam- 
bert. left wing, to San Diego. 

BUFFALO— Assigned Matthew Bornabv. 
l or w o rd, to Rochester. AHI_ 

LA. KINGS— Signed Andre Raclcof, ooal- 
tender,to2^oar contract mid assigned him to 
Phoenix. IHL. 


MONTREAL— Resigned Vincent Dorn- 
phousse, left wing, to 4-year contract, 

N.Y. ISLANDERS-Traded Ron Hestoll, 
goaltender.andiwsslxttvnxmd droll pick to 
PhlHxteMtla tor Tommy Soderstrom, goaF 


TORONTO— Assigned Mark Deveil, centor 
la Saskatoon. Western Hockey League: Eric 
Fkharud. goaitcnder. la CMcoullmL Quebec 
Motor Junior Hockey League; Sean Hag- 
gerty, left wing, to Detroit. Ontario Hockey 
League; Zdcnek Nedved. right wing, to Sud- 
bury. ohl and Kam White, defenseman, to 
Sarnia OHL 

WASHINGTON— Announced Brendan Wit, 
defenseman, hosiefl training comp. Assigned 
Kent Hulst and Martin Gendron, right wtngsi 
Mike Bpboefc, center; Jim Ca rev, goa iterator; 
and Steve Poops!, dptenseman, to Portland, 
AHL. end Noton Ba u mgartner, defenseman, 
to Kamtooosaf the Western Hacker League. 

COLLEGE 

DICKINSON— Named Brad Stover base- 
ball coach. 

LEWIS 4 CLARK— pirod Tom Smyrna foot- 
ball coach. 

LSU— Named Tommy Godson women s as- 
sociate Basketball coach. 


DENNIS THE MENACE 


PEANUTS 


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— — — i 1 '*■" iiWIM HU 

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SPORTS 


INTERNATIONAL HERALD TRIBUNE. SATURDAY-SUNDAY. SEPTEMBER 


24-25, 1994 


Page 19 


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Russia Leads by 2-0 in Germany, 
U.S. Also Wins First 2 Singles 

O.* ¥ H r n « .. O 


tU in All, Hill’s Day 

The Associated press 

ESTORIL, Portugal — Damon Hill, the Brit- 
drwer seeking to close on the Formula One 
xGeseaped mjury Friday when his Wniiams- 
na tt overturned during a spectacular coIK- 

n ?* “* qualifying session for the Portu- 
isc Grand Prix. 

- i just minutes left in the session, the Jordan- 
iirt of Northern Ireland’s Eddie Irvine skidded 
!* “ control, spun and dipped Hill’s car. The 
rlhams flew into the air, somersaulted and land- 
! upside down in the sand beside the track. 
iHill's helmet hit the ground as the car la nde d , 
it he walked away from the crash and did not 
sd a medical checkupi 

I ‘Considering it was the first time I’d been 
Jade down in a Formula One car, I’d say it 
nt rather wdl,” he quipped. 

fcace stewards exonerated Irvine of blame, as 
l Hill, who said, “It was kind of unavoidable. 

4 We can laugh because Pm not hurt, but I , 
<uldn t want to do it too often.” i 




Prdro SiJvn/Reoten 



Stick May Drop Out 
After Death Threat 

The Asxoctmej Press 

HAMBURG — Michael Slich, playing 
under- a death threat oa the court where 
Mowca Seles was stabbed, lost Friday to 
Alexander Volkov as Russia stunned de- 
tending champion Germany and look a 2- 
0 trad m their Davis Cup semifinal. 

Yevgeni Kafelnikov beat Bernd Kar- 
bacher, 7-6 (7-2;, 6-1, 2-6, 6-4, in the open- 
ing singles match of the best-of-five senes. 

Russia is now one victory away from 
reaching the final for the first time "since it 
AS* ^4-year-old competition in 
,9 rC: 34 tf*® Soviet Union. 

cm 2? f, b ^ d especially laid on for 
5Uc^ Volkov beat the favored German, 7- 
5 , 1 - 6 , 7-6 ( 7 - 5 ;. 6 - 4 . 

Stich further stunned his team when he 
«ud afterward that he might not play in 
ti Saturdays doubles. K y 

I “I can’t say why, first I have to talk it 
< over with captain Niki Pilic." he said. 

But a German Federation spokesman 
Jens-Peter Hecht. said Stich had received a 
! death threat late Thursday, and that au- 
: thonries were investigating. Stich was ex- 
; pected to decide Saturday whether he 
S would play. Hecht said. 

Seles, then the world’s top-ranked wora- 
an tenrus player, was stabbed in the back 
m April 1993 by a spectator who jumped 
from the stands at the German OpenTsdes 
has not played since. 

I knew Stich is a fighter, but in t enni s 
everything is possible,” Volkov, who is ■ 
ranked 41st, said when asked if he expect- , 
ed to beat the German ^ \ 

Volkov, already a break up and serving ] 
for the first set, commi tted a double-fault! ‘ 
■out Stich dropped his own serve in the ‘ 
next game, beaten by a passing shot down r 
the line, and the Russian held serve. J 
Such broke Volkov twice in the next set • 
to draw even, and in the third broke for a 
6-5 lead and was serving for the set when g 
he hi t a forehand into the net and allowed d 
Volkov to force a tiebreak. h 

A double-fault by Stich gave Volkov two r; 

break points. Stich saved the first but then fi 
hit a forehand wide. 

Volkov, a 27-year-old lefthander, broke n 



Michael Sdch: To decide Saturday. 

Stich at love to start the fourth set and held 
on to win the match, hitting a volley win- 
ner on his third match point. 

“I wasn't concentrated, I was not at all 
on the court” Stich said. “I didn’t react I 
moved badly. But this is no excuse.” 

Earlier, Kafelnikov spoiled Karbacher’s 
Davis Cup debut 

After winning the first-set tiebreaker. 
“?'y® ar “ 0,d Russian broke for 2-0 and 
rolled through the second set in just 24 
minutes. 

He lost the third almost as fast 
But the Russian, ranked 12th in the 
world after a rapid rise through the ranks 
this year, survived two break points, served 
an ace and scored with a scorching fore- 
hand to take a 4-2 decisive lead in the final 
set. 

He was never under pressure again and 
won on his first match point when Kar- 
bacher sent a forehand long, winning in 
two hours and 30 min ima 
“He is one of the top returners in the 
game. I tned to serve to the lines, but it 
didn t always work and he scored a lot with 
his returns.” said Karbacher, who is 
ranked 33rd and who reached the quarter- 
finals at the U.S. Open. 

He was just better in the decisive mo- 
ments,” Karbacher said. 


' j Mr Rarbacher said. 

Results From the Other Davis Cup Group Playoffs 

,'eSf WORLD GROUP PBOMOTW1M.D ci _ ± J JJ 





fromotwh-relegatioh playoffs 

'•ewtontaj^AusJrnnB 1: Bren Steven. New Zealand, det. 
^F^Wootfforda ;-S, 6-7 14-7). 4-X 7-5 : Patrick Ratter. Aeon- 
Ua. d*f. James Cnrenhajah. 7-S. 6-2, o-X 

7 -U 6 -X 44 . Marc R asset dot. Sawamfl. 6-4 6-1 6-1. 

jd 'iZSZ""* SOUMl A,r ‘“ 

A?????. 'fl^^'lteOrwM.Be's^det.G'hia Bloom. 
7 * SX' Wansaort. Israel, def. ChrlstoH Van Garsse. 

Mohr 2. Honaary B: Andrea Gaudenzl dot. jazsei Krecsko.6- 


7 &ff£x R '^ Fur,onOH - 5ar «° f »'o SM fy,?^(M>.fr-a6- 

W6r" ,,,rlW,B,ll: Thomas Muster set. Dteso Perez. 6-a. 

, ******** 01 ,BOr SwfccW.NunaManwes.<M.6-a, 
dMIM?" IVanl,ev,cde, - 6mon «l Coato, 6-45.7,4-5. 

EUR O-AFRICAN ZONE CROUP X ROUND 3 
6.^607^ Y^A°v^!! a ^. A ^ Zl ^■ A/Tf ^S»'wnaaeti 

ot.a-i. 7-4; VounesAMioouLdet.ctrnOzelde.S-7.7-A (7-31,5-7, 
7 " ' Fr0T * OforL Ghana v. Btaz TrvpeUW.A-46-Z 


Sampras Follows 
Martin to Victory 


The AssonaieJ Press 

GOTHENBURG. Sweden — Peie Sam- 
pras and Todd Martin posted four-set vic- 
ton« on Friday, giving the United Slates a 
--0 lead over Sweden in the Davis Cup 
semifinals. 

Marnn continued his master, over Ste- 
fan Edberg, beating the Swede. 6-2. 2-6. 6- 
4. 6-3. in the opening singles of the best-of- 
five senes. 

Sampras, playing his first match after a 
stunning fourth-round loss to Jaime Yzaga 
m the U.S. Open, then rallied to defeat 
Magnus Larsson, 6-7 (3-7). 6-4. 6-2. 7-6 (7- 
3). in a serve-and-vollev shoot-out on the 
Scandtnavium Arena's fast carpet. 

Jared Palmer and Davis Cup rookie Jon- 
athan Stark can clinch the .Americans’ vic- 
toiy if they win Saturday's doubles asainst 
d Jan Apeli and Jonas Bjorkman. 

- After losing the first-set tiebreaker 
Sampras, the world’s top-ranked plavcr 
] took command by breaking Larsson’s 
[ serve early in ihe next two sets. 

The fourth set went with sen-ice all the 
; way. forcing another tiebreaker. But Lars- 
son, who reached the French Open semifi- 
nals this year but has struggled during the 
summer with elbow problems, had” his 
chances. 

In the fourth game, he had four break 
points, but Sampras held with a final ace. 
Larsson also had a break point in the 
eighth game, but again Sampras's big sene 
got him out of trouble. 

Martin’s victory was his third over Ed- 
berg in three matches this year. Ranked 
sixth, he rallied from a 3-1 deficit in the 
third set to turn around the match. 

He fell behind, 1 -0, in the third set af ter 
Edbeig broke him in the opening game. 
Martin broke back in the eighth game 
winning the first point with a perfect lob 
He then held to love and broke Edbera 
again to win the set. 

Martin made some changes in the third 
set, and they worked. 

“The biggest change was mv second 
serve, he said. “He was returning it very 
well, so I started hitting it harder and with 
a httie more spin. It threw his timing off 
and helped me." 

Martin broke for a 4-2 lead in the fourth 
set after hitting a forehand return in the 
opencourt on Edberg's weak second serve. 

Edberg broke back in the next game, but 
dropped his serve again to trail 5-3 after 
starting with a double-fault. 

Edberg double-faulted on several cru- 
cial points, including the final point in the 
second game of the first set that gave 
Marnn a 2-0 lead. Edberg also ended the 
eighth game of the third set with a double- 
fault that enabled Martin to tie at 4-4. 


I Bnyton /Reulere 


the architects of time 


BEASTLY PUNS by Nancy Nicholson Joline 


ACROSS 

Corrupt 

Dupe 

Rope nuicrials 
Measures 
Li’l one 
San Anionic 
attraction 
Profit 

•* De Valera of 
Jr^ind 

CrSuure not 

>et found? 
Celebrated_ 
tightwad of old 
Meander 
Zurich's and 
Zug's locale 
North Carolina 
college 
K follower 
“West Side 
Story* girl 
Actress 
Thompson 
Meat, fruit, 
honey? 

Vi’all fixture 
It may be dead 
TV's Dame 

Evrrage 

Up-io-rhc- 
minute 
Photo add-on 
Gets an A 


*6 Escort 

47 Sailors’ 
interject ions 

48 De Brunhoff's 
pachyderm 

49 Spirittulisr's 
device 

5] Sequel title start 
53 Cluck, crow, 
gobble, peep? 
56 Poop deck's 
place 

59 Tool handle 
wood 

61 Forfeit 

62 Directional 
suffix 

63 Fixed 

65 Pharisees, e.g. 

68 Not nearby 
70 Rings 

73 Some game 
pieces 

74 Yups’ opposites 

75 Workman's 
wheels 

76 Sardines players 
78 Kind or call 

80 Ear Prefix 

81 Crystallize 

82 Misbehaving 
antelopes? 

83 Galena, c.g. 

84 Scratch (out) 

85 Auto 
summonses? 


JAL 

now flies non-stop 
to Osaka from 
London and Paris. 



87 They hardlv 
give a hoot' 
i 88 Defect 

f’s 89 Still-Gfe subject 

90 Gay 

fW.W. JI plane) 

91 Lamb products 

tan 93 Kind of bread 

94 See 58-Down 

? 95 “The 

Class" 

fOToole film) 

97 “ on parie 

fran$ais" 

98 One-on-one 
sport 

100 Easterpreccder 

102 Hot-tub locale 

103 Uninvited swine? 
107 Daily index, 

with'-the' 1 
109 Cleric, e.g. 

1H Spreads 

« 112 Oda 

(Whoopi's role 
in “Ghost") 

« J14 Hoo-ha 

117 Nautical heading 
119 Followers of 
prurtemps 

121 Jurist Robert 

122 Piquancy 

123 Stole 

124 Cougar 

125 Biting, 

chest -thumping, 
roaring? 

128 Brother 

129 Choreographer 
Moiseyev a aL 

131 Track 
competition 

132 Ship sailed by 
Tlphys 

133 Rock'n'roll 
pioneer Freed 

134 Fenner 

'Masterpiece 

Theatre’ host 

135 Keys in 

137 Ranching that’s 
growing by leaps j 

and bounds? : 

140 Advantage , 

141 Hilly districts, 1 

to Brits . 

142 Saw 1 

143 A1 — — (way to [■ 

cook pas to 1 ’ 

144 Bonk claims 

145 More than big 

146 Reach , ( 

147 Pundits . 7< 


17 

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DOWN 

1 ’Hot" ours 

2 Chisholm Trail ' 

stop 

3 Without 

restraint 

4 Capone foe 

5 Chemical prefix 

6 Loose overcoats 

7 Cave temple 
site in India 

8 Golfer—-— 
Stewart 


©Nieto York Tones/ Edited by U1U Shortz. 

9 Presidential 54 Political family 

monogram of India 

10 Near miss in • 55 Flagrant 

tic-tac-toc 57 Spotted 

11 Aria for 5fj Canopies for 

Carmen 94-Across 

12 Six-time UJ. „ , 

Open tennis 60 F ‘ r « P^idcn t 

champ ® Czech 

» S"”' w 

15 Vulpine**** 65 Sleep disturbers 

16 Fashion line Consumed 

17 South Florida 67 fir0B ' n rum «“n'? 

city h? Bogus 

18 Cuddly farm 70 Bounds 

aninuf? 71 Minimal change 

19 “Every Breath 72 Reconnoiter 

^ Ou Take" 76 Michener novel 

group, with 77 Without 

! he forethought 

Dastards 79 It Has manv stops 

««»*■' . 

34 Theslighrest 82 Theuardenof 

amounL Earthly 

mformallv Delights’ artist 

35 D<|j dishes 86 Clay today 

36 Marten 88 Catafalque 

^ d i usl Zaragoza’s river 

38 J nm nT 92 Carrie, for one 

48 Churl composer 

50 Irritate 98 Film critic Roger 

52 Toasted 99 Sprite of Irish 

53 Spanish dessert folklore 





J 

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137 

138 

142 


1« 




*« *"7 Ml" I I 


1 01 “TheCounnv 
Girl" pJa>HTighi 

104 Concerning 

105 oblige 

106 Show smugness 

103 Equivocating 

110 Give heed 

112 Simcnon sleuth 

113 Giant auto- 
maker supplier 

115 He said 
"Everybody 
wants ta get 
ima da act’ 

116 Seville*, e.g. 

M7 Of a summit 


US '“The Count" 
biographee 

120 -Simon 

122 Italian liqueur 

126 Yorkshire city 

127 Gem weight ’ 
130 Ibiirs for 

Sampras 
133 Perplexed 

135 Sophia Loren's 

" \Fomen" 

136 London lout 

137 Harridan 

138 Juice drink 

139 Driver's lie. and 

others I 


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Page 20 


ESTERNATIONAL HERALD TRIBUNE, SATURDAY-SUNDAY. SEPTEMBER 24-25, 1994 


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M IAMI — Back in 1954, 
when the Russians were 
evil and I was a first-grader at 
Wampus Elementary School in 
Annonk, New York, the school 
authorities regularly conducted 
emergency drills wherein we 
students practiced protecting 
ourselves from nuclear attack 
by crouching under our desks. 

During the Cold War years I 
often wondered why it never 
occurred to our defense plan- 
ners to protea the entire nation 
from nuclear attack by simply 
covering it with a huge Strategic 
Classroom Desk. 

□ 

I now realize that our defense 
planners did not have time to be 
fooling around with ridiculous 
schemes like that. They were too 
busy spraying deodorant on 
cow's. According to an Associat- 
ed Press stay sent in by many 
alert readers, the army recently 
admitted that in 1963 and 1964, 
army scientists went to stock- 
yards in six American dries and 
“sneaked up on cows and 
sprayed them with deodorant.” I 
am not making this up. The idea 
was to find out whether enemy 
agents could spray American 
cows with hoof-and-mouth dis- 
ease germs, thereby spoiling our 
nation’s beef supply. 

□ 

Yes, it was a risky job. But 
somebody had to do it. Because 
for all we knew, somewhere 
over in the Soviet Union, Com- 
munist scientists, bent on world 
domination, were spraying de- 
odorant on THEIR cows. 

Of course those days are 
gone. Gone too is the very real 
threat that at any moment, a 
nuclear war could wipe out hu- 
man civilization. I frankly miss 
it. I mean, during the Cold War, 
you could always say to your- 
self, “Hey, any minute now I 
conld be blown to atoms, so 
why should I [pick one]: 
a. Clean the toilet?” 
b. Give up heroin?” 


c. Not eat these last seven 
eclairs?” 

Yes, you could have guilt-free 
fun during the Cold War, as op- 
posed to now, when the prospect 
of reaching old age has turned us 
into a bunch of health-obsessed 
wussies, squinting at product la- 
bels in the supermarket, trying to 
locate the low-fat bean dip. Also, 
with the Soviet Menace gone, 
our government hardly ever does 
fun stuff anymore. I’m sure 1 
speak for millions of Americans 
when 1 say that Fd rather see my 
tax money used for covertly 
spraying deodorant on cows 
than for printing up yet another 
652-pound health-care plan. 

Fortunately there is one gov- 
ernment outfit that still has some 
of that old Cold War paranoid 
spunk. I refer to the Central In- 
telligence Agency, which recent- 
ly admitted that it bad been hid- 
ing four large buildings in 
suburban Virginia from the rest 
of the federal government Un- 
der questioning from a Senate 
committee, the CIA admitted it 
was building a S310 million of- 
fice complex that nobody, in- 
cluding President Clinton, knew 
anything about And if you’re 
wondering how a project that 
laige could be kept secret then 
you clearly have never seen the 
federal budget which is larger 
than your garage. The CIA could 
easily have slipped $310 million 
in there under a heading such as 
“Snacks." 

□ 

This story gave me a warm 
feeling. It reminded me of the 
good old days, when life was 
exciting and Co mmunis ts were 
trying to destroy the nation's 
moral fiber via such tactics as 
“rock-and-roll” music and 
Richard M. Nixon was finding 
enemy microfilm in pumpkins 
and nobody had ever heard of 
“dietary fiber." Just for old 
times’ sake, Fm going to crouch 
under a desk. 

Knight- Ridder Newspapers 


The Mamur Zapt and Egypt’s Edwardian Summer 


International Herald Tribune 

L ONDON — The country house 
mystery is, happily, long gone 
and the psychological thriller has 
joined the mainstream. What pleases 
these days in crime novels is histori- 
cal periods and exotic settings. Enter 
the Mamur Zapt. 

For centuries the real-life Mamur 
Zapt was the head of the khedive's 
secret police. When Britain became 
Egypt’s de facto ruler in 1882 and 
Lord Cromer was named consul-gen- 
eral the title of Mamur Zapt went to 
an Englishman who headed the polit- 

MARY BLUME 

ical section of the police, a powerful 
position but complex since Egypt 
was still in principle a province of the 
Ottoman Empire ana France was 
also jousting for commercial power. 

Described by one historian as 
“that anthology of disorder,” Egypt 
had a judicial system based on the 
Napoleonic code, but in fact at least 
three legal systems were in use, in- 
cluding the Capitulations privileges 
which gave nationals of certain pow- 
ers the right to be j udged by courts of 
their own countries. 

“Bluff was the thing on which the 
administration really depended; the 
kind of bluff that allowed three for- 
eigners to run the police force and 
maintain order in a country the size of 
Egypt,” Michael Pearce writes in his 
eighth Mamur Zapt crime novel “The 
Snakecatcher's Daughter,” to be pub- 
lished by Harper Collins next month. 

Pear re’s novels are set in post-Cro- 
mer Cairo, during the long Edwardi- 
an summer afternoon when the deli- 
cate political situation is further 
troubled by hectic bursts of national- 
ism and even liberal members of Par- 
liament are saying that the British 
should clear out. The year is 1908 
and the Mamur Zapt is a Welsh ex- 
army officer named Gareth Owen. 

“The lid's just be ginning to come 
off and the nationalist pressure is just 
beginning to boil up so it makes the 
question of order, and therefore of 
policing, very acute,” Pearce said, 
leaning back in a deck chair in his 
garden at Wimbledon. He is a tall 
and gentle man with a gap-toothed 


smile who was raised in what was 
then Anglo- Egyptian Sudan. 

“In a sense you could say that the 
daftness of British rule is bong called 
into question and at the same time 
the daftness of the existing khedivial 
system is coming into question. As 
opposed to the daftness you have the 
naivete of nationalist hopes — we're 
going to change the world, it's all 
going to be different. So you've got 
all these things coming to a head." 

You have indeed, and very neatly 
described, but what makes the Mamur 
Zapt series such a treat is that they are 
so affectionate and funny. “Tarboosh- 
es off to the Mamur Zapt.*’ wrote one 
critic and Pearce has won a crime 
writer's prize for the best comic thrill- 
er. It is called The Last Laugh award, 
What he is writing is more social com- 
edy than mystery books. 

“That is actually important to me. 
the social comedy. It’s so important 
to sos people as people." 

Being a Welshman of modest back- 
ground, Owen has neither the blue 
eyes and yellow hair nor the university 
degrees of the other young English- 
men. He is less conspicuous than they 
in his white linen suit and tarboosh, 
more of an outsider and as a Welsh- 
man sympathetic both to nationalism 
and to the romantic and unreasonable 
discourse of the Cairo streets (“the 
usual problem with Egyptian witness- 
es was not that they could not recall 
but that they recalled too well”). 

He speaks Arabic as well as the 
obligatory French of the upper class- 
es and, for a policeman, is not very 
observant, which means tha t his girl- 
friend, Zeinab, is constantly catching 
him out Zeinab is a vivid and witty 
invention since Pearce did not want 
to supply Owen with an En glis h rose 
and meeting conventional Egyptian 
women was not easy at the time. 

Zeinab is unconventional high- 
born since her father is a pasha but 
freer than other Cairenes because she 
is illegitimate, her courtesan mother 
having refused to join the pasha’s 
harem. Like other of her class, she 
prefers Cannes to Cairo and is only 
predictable at the opera, where she 
pleasurably weeps from start to end. 

There is no lack of exotic detail (the 
plural of dragoman, for example, is 
dragomans) or of colorful street life 



i&5£695TCi3iPifcr 

Roger- VwUci 

An excursion of Europeans with their guides to the Pyramids, 1910. 


because what Owen and Pearce love 
most is the bubble and bustle of Cairo 
streets, the elaborate chitchat, the lazy 
corruption of the r uling class, such as 
the prince describing the failings of a 
possible future khedive: 

“He aaually didn’t know where 
Alexandria was, never mind 
Cannes.” 

Owen tut- tutted. 

“Yes, said the prince, gratified, 
“and as for all that economics stuff! 
Not an idea. Of course I would not say 
that I myself had a total grasp of the 
subject but it is important, especially 
for a khedive. to know enough at least 
to be abl.» to borrow intelligently." 

Pearce': «^airo is based on street 
maps and memoirs. “The best mem- 
oirs are by women because they have 
an eye for what is considered the triv- 
ial detail while the men are pontificat- 
ing about the state of Egypt and the 
world.” He is not trying for realism 
and two major influences are his hu- 


man rights work for Amnesty Interna- 
tional and his former job as Dean of 
the Humanities at Kingston Universi- 
ty. “Academic politics is very good 
training for world politics,” he says. 

From his university budget prob- 
lems he drew the idea of a strict 
Scottish parliamentarian coming to 
examine the accounts, leaving Owen 
in a spot about how to conceal the 
considerable funds he requires for 
bribes. In “The Mamur Zapt and the 
Camel of Destruction, writing 
about property speculation in Ed- 
wardian Cairo, he was inspired by a 
recent attempt by the Wimbledon 
town council to drive a road through 
his neighborhood. 

“I write about contemporary life 
through writing about the past. I like 
the sort of comic irony of it, I think 
it's the best way of handling a lot of 
issues.” But he avoids the mayhem of 
modem life: His thrillers are singu- 
larly lacking in murders. 


“There’s enough violence and 
death without adding to it in fiction 
which doesn’t make it an easy thing if 
you are writing crime fiction, I accept 
that," i 

He cares about his characters aid 
dialogue and his opening paragraph 
but is unconventionally weak on 
plots, which tend to trail off and then 
get neatly sewn up at the end. 

“Rot is not very important, as 
you've no doubt guessed. I need tq 
take myself in hand. What happens is 
I think of the start of the novel and 

particularly the first paragraph. ar« 
then it grows and I haven't worker 
out. except in rough terms, how itf 
going to end. I prefer to let it gro» 
and develop out of the relationship 
of the characters." | 

Pearce is a member of the Crintf 
Writers Association. “I’m not a greai 
man for organizations, except Am 
nesty. I’ve had enough conference 
and committees forever. But it’scurij 
ous meeting crime writers in Eagj 
land. They’re terriDly gentle, nothing 
like academics. The nearest thing 
know is anarchists — such sweet am 
gentle people.” 

At this point bis books, like mos 
crime series, rely on formula 
though he has dreams of using 
plicated literary devices. The fore' 
is something he neither fully accept 
nor rejects. t 

“It’s something you have to rcckod 
with, you can’t move loo far awa] 
from the formula because peoph 
look for some of the elements, thei 
want to know how Zeinab's gettin 
on. I think a formula gives readei 
confidence, people don't often giv 
credit for that,’’ 

His comparison is with folk tales 
whose very predictability gives pleaj 
sure. “It is amazing how many so* 
phisticated people are not sophist 
cated readers,” Pearce said. i 
It is also nmATing how un sophist* 
cated marketing people are. Now tha 
Pearce has a steady following wiij 
seven “The Mamur Zapt and . . J 
novels, the new one leaves out tH 
Mamur Zapt and is simply callej 
“The Snakecatcher's Daughter.” . 

“The marketing people though 
readers might be bewildered by tb 
words Mamur Zapt.” 


WEATHER 


PEOPLE 


Europe 


Tod M 


Tomorrow 


Htgh 

Law 

W 

High 

Low W 


OF 

CJF 


OF 

G/F 

A^ane 

w*e 

16/SI 


23m 

1702 ■ 

Amuntani 

19/66 

15/59 

ah 

1004 

1407 * 

Ankara 

27/00 

14/57 

l 

2B/B2 

11/52 ■ 

ADwra 

30/66 

10/66 

s 

20/64 

21/70 ■ 

DwLw 

23/73 

18/S* 

• 

26m 

1&04 ■ 

Beifwate 

27/BO 

12/63 pa 26/67 

17/62 1 

Bertn 

25/77 

14/67 

% 

23m 

1203 pc 

BonMto 

22/71 

13/55 

»/i 

20/69 

11/52 Ml 

Budapaa 

26/70 

12/53 

■ 

27/60 

17/62 pc 

Craart-agni 

22/71 

11/52 


18/04 

1102 pc 

Coma CM Sol 

23/73 

17/62 

pc 25/77 

20OB 1 

OuMn 

19/06 

9/46 


17/62 

9/48 Stl 


17/67 

11/52 


13/39 

1102 pc 

Romnc 

26/76 

16/64 


2002 

1702 8 

Franktun 

25/77 

15/30 

8 

24/75 

1305 ah 

Gnwn 

21/70 

10/50 

pc 23/71 

12/53 pc 

Hotetnid 

16161 

8/46 

1 

13/56 

6/43 sfi 


27/80 

17/67 

* 

2700 

17X52 * 

LnPrtnn 

24/75 

20/68 

a 

26/79 

21/70 pc 

Uri»n 

19/66 

16/61 

c 

23/73 

HM51 5 


21 m 

12/63 

1 

19/66 

8/48 *h 

ktadrid 

16/61 

10/60 


23m 

12/63 a 

Mian 

76/79 

17/82 


27/BO 

16/61 PC 

Moscow 

19HS6 

11/32 


1102 ■ 

Minch 

23173 

13*63 

a 

23m 

1203 pc 

We» 

24/73 

17/62 

s 

2700 

17/62 a 

O* 

17/62 

4/39 pc 

14/57 

7/44 oh 

Pafcna 

22/71 

18*64 

0 

24/75 

19/66 ■ 

PWa 

22/71 

12/63 pc 22/71 

11/52 «h 

Paiew 

24/75 

14/37 

a 

24/75 

14/67 pc 

BrytyivA. 

8/46 

7/44 

eh 

12/63 

7/44 c 

Homo 

27/60 

16*4 

PC 29«4 

18/Q* > 

Sl Pe/mtxrn io*6 

9/48 


15/59 

5/41 * 

Skxlri*n 

17/82 

7/44 

o 

13/55 

B/46 bSi 

Sfmtatsy 

23m 

1IC2 

PC 22/71 

1203 pc 

TbKhi 

16/61 

8/46 

| 

13/55 

7/44 ah 

Vonk» 


19/66 


2002 

19/60 a 

Vienna 

21/70 

13/M. 

» 

22/71 

I4IS7 po 

Wtavw 

23m 

9/48 

a 

24/76 

1306 pc 

Ztndl 

24/78 

1303 

pc 

24/73 

1306 pc 

Oceania 

Auckland 

16/61 

9/48 

ah 

15/59 

9148 pc 

Spinor 

22/71 

B/46 

a 

20/66 

9/48 pc 


Forecast for Sunday through Tuesday, as provided by Accu-Wealher. 



JcW mam 

North America 

Chilly weather will occur 
from the Great Lakes slates 
to Sl Louis early next week. 
The Northeast will be warm 
with some sunshine. A 
developing storm in the east- 
ern Gulf of Mexico will 
spread rain northward 
through Florida to the Canti- 
nas. The Rockies wl» have 
dry. warm weather. 


Europe 

Cool, showery weather will 
ocar from Parts to Hamburg 
early next week. London w*l 
have dry. seasonable weath- 
er. Italy wfll be warn, with a 
taw scattered showers from 
Milano to Venice. Much of 
eastern Europe wil have dry. 
pleasant weather early next 
week Scandmavta will him 
much coder Tuesday. 


Asia 

Heavy ram will dampen 
southeastern Japan, includ- 
ing the Tokyo area early next 
week. Typhoon Orchid may 
approach southeastern 
Japan by Tuesday. Much d 
central and southern China 
wffl have dry. warm weather 
early next week. Manta and 
Bangkok wfl be warm with a 
lew afternoon showers daily. 


Middle East 


Latin America 


Baku 

Cava 

Ownaane 

JanaalBni 

Riyadh 


Today 
High Low 
OF OF 
29/84 23/73 
20*4 ISMS 
28/79 14/ST 
25/77 1B/BI 
3S/BS 19/66 
37/SB 24/79 


W High Low W 
OF OF 
» 30 m 22/71 * 
a HAM 79/66 i 
5 29AM 13/65 i 
» 76/79 16/BI l 
s 38/100 ID/64 a 
a 36/10025/77 a 


Today Tomorrow 

Wgh Low IN High Low W 

CIF OF OF OF 

BuBnoa Ainm 23/73 RMS ah 10/BI 3/37 pc 

28/82 30/86 »h 29/84 21/70 ah 
16/64 ISOS pc 16/64 16/69 pa 
25/77 18*1 pc 26/79 10/BI pc 
26/79 19/66 pc 25/77 20/68 a 
17/62 3/37 pc 19/86 9/46 pc 


Lima 
Mexico C9y 
Rfat - 
Saratoga 


Legend: s^uviy, oc-oartty douJy, c-ckxxfy. sh-a/rawo-s, l-ovjnootswms, r-rakr. sl-enow tXaries, 
nrvsnow, Uce, W-WeafW. AA maps, fo w ceate and data provided by Accu-Weathar, tnc. C 1994 


Asia 


Today 


Tomorrow 



M* 

Law 

W 

Mgh 

Low 

W 


OF 

OF 


CIF 

OF 


Bangkok 

32 m 

24/75 


31/68 

24/75 



22/71 

13/55 

a 

21/70 

1000 ati 

Haro Kona 

31/98 

29/79 


31/88 

36/79 pe 

Mwiri 

31/68 

74/75 

i 

3I/B3 

24/75 

| 

NrwDcH 

36 <97 

22/71 

i 

34/93 

23m 


Sea/ 

20 m 

11/S? 

PC 

23/73 

13/55 


Shwjriv 

27/80 

18<64 

7 

27/80 

21/70 pe 


31/08 

24/75 

PC 32/89 

24m pc 

Ts4»i 

31/68 

19*5 

PC 31/88 

22/71 


Tokyo 

27160 

20/68 

pc 28/62 

21.70 

* 

Africa 

Algtoi 

26/79 

21 m 

a 

38/8? 

21/70 


Cope Town 

21/70 

1305 

a 

23/73 

10/50 


Caaablanca 

22/71 

1407 

9 

23m 

1601 

pc 

Hamm 

21/70 

6/43 

pc 

22/71 

10/50 pc 

Lagos 

28/62 

24/75 

1 

29/84 

24/75 pe 

Hato*i 

22/71 

9/46 

Ml 

24/75 

1102 


Times 


23/73 

PC 

33/61 

21/70 

pc 

North America 

Anchorage 

1305 

3/37 

r 

9/48 

2/35 

r 

A terta 

27/80 

18/64 

c 

24 m 

15/59 

sh 

Boston 

ePJAbri 

1407 

c 

23/73 

14*7 


Chicago 

«»J6 

1203 

Mi 22/71 

11*2 

all 

Gsimm 

24/75 


• 

26m 

9/48 

fl 

Dm km 

23m 

14/57 

W 

25/77 

12*3 

c 

Honokzki 

31/88 

25/77 


31/68 

24/75 


Houston 

29/84 

1407 


28/82 

16/61 

1 

UtoAngafea 

29/64 

18/64 


31/98 

19*8 


Mami 

31/88 

24/75 

I 

31.1)8 

24/75 1 

kfcpmupukl 

22/71 

13/55 

• 

22/71 

12*3 

ah 

MlOtfHSl 

17/62 

7/44 

c 

17/62 

7M4 


Nassau 

32/B9 

24/75 


32/69 

24m 1 

New To* 

23/73 

1702 

PC 

23/73 

10*1 


Phrjsmx 

34/93 

asm 

3 

37/98 

23/73 

fl 

San Fran. 

22/71 

14*7 

pc 22/71 

1305 


Seanta 

77/BO 

1203 

9 

24/75 

13*5 


Toroitto 

21/70 

7/44 

c 

18*4 

6/46 


nBMigWl 

24/75 

170? 

pc 27/60 

16*1 

pe 


A N appeals court in Los Angeles has 
overturned an $8.1 million judgment 
against actress Kim Basinger for backing 
out of the starring role in the Main Line 
Pictures film “Boxing Helena." Hie court 
ruled that Superior Court Judge Judith 
Orirfin in last year's trial had given the juiy 
improper instructions. The breach-of-con- 
tract award, which forced Basinger into 
bankruptcy, was one of the largest ever to 
hit Hollywood. Basinger had testified that 
no final agreement was reached and that 
she had chosen not to appear in the film 
because she would have had to perform in 
graphic sex scenes. The new ruling sends 
the matter back to Los Angeles Superior 
Court for a possible retrial. 

□ 

Satisfaction in the consumer society: 
The ultimate sign that there’s nothing 
counterculture about rock, the new Roll- 
ing Stones credit card. The Chevy Chase 
Bank of Maryland and National Affinity. 
Cards of Bouilder, Colorado, are issuing a 
credit card illustrated with the band's Up- 
and- longue logo. “I believe Mick thinks 
it’s pretty cool” said a Visa spokesman, 
referring to Mick Jagger. He said the band 
members received a licensing fee for the 



TV A.M^uIrtl ILv 

The Rolling Stones credit card. 

logo’s use. Card users win bonus points for 
discounts on Stones concert souvenirs and 
memorabilia, and they receive special of- 
fers and special prices from record stores. 

□ 

Charlie Sheen, 29, who has lately 
snagged more headlines for his wild party- 
ing than his movie roles, says he's been 
clean for “12 weeks now" ^ — no more 


drugs, no more alcohol, no more oujf 
control binges. Which is no small fe*fj 
man who recently unzipped his lip7a{ 
publicly on such subjects as his ulta 
dalliances as a Heidi Fleiss client, his I 
fetish and his passion for porn stars} 
cheerleaders. “I just got tired of what l, 1 
seeing in the mirror." Sheen says, ‘it 
just time to get things back in order. 

□ 

Motley Crete's drummer Tommy 
32, was shot with pepper spray and 1 
cuffed by police as they broke up a 1 
outside a nightclub on Sunset Houle 
Lee was later released. 


Jos* Gtu'rao, 35, has been named dj 
tor of the Reina Sofia Art Center, Sd 
national museum of contemporary aj 
Madrid. He replaces Maria de Corral | 
was summarily dismissed by Spain’s) 
ture minister. Carmen Afborch, becauj 
strong disagreement over what kind a 
to put in the museum. Corral had I 
known for mounting retrospectives oi 
ting-edge artists. Guirao had been hej 
the fine arts division of the Ministi 
Culture. < 




* ■ 



With AT&T VSADirecf and \ 
World Connect * Service . you cun rm 
multiple calls without redialing- 
your card or access number. 

£ -o You're in a hunv. So we'll be brief. AT&T l tSADire 

mmm ' ; 

World Connect Service gets you fast, clear cornu- 
back to the bn i led States or to am of over WC 

i 

countries. Also, an easier way to make multtpfj 
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up after each call, busy signal or unanswet 
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lime dialing. And more time talking. Wait. Or 
thought, isn't your flight about ready to l« 


as(a mctftc 

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